Amex Makes Its Biggest Commercial Bet in Years With ‘Business Membership’

Watch more: Need to Know With American Express’ Raymond Joabar

The corporate card has been a remarkably stable product for decades. It processes, tracks and reconciles. It earns points. It carries a limit. And for most of its history, that was enough.

American Express helped build that category. Now it’s arguing the category itself needs to change.

This week, Amex announced what Raymond Joabar, group president of Global Commercial Services (GCS), called the company’s most...