a series of B2B Payment Solutions to help companies manage B2B spending. This type of spending by companies also helps to diversify its spend mix. The Corporate Purchasing Card helps large corporations and mid-sized companies manage their everyday spending. It is used to pay for everyday goods and business expenses, such as office supplies, industrial supplies, and business equipment. The company issues local currency Corporate Purchasing Cards in 29 countries. It also offers Corporate Purchasing Cards issued through its GNS partner relationships in an additional five countries. vPayment, which offers companies single-use virtual account numbers, allows GCP clients to make payments with improved controls, data capture, and reconciliation capabilities. The solution automates reconciliation, eliminates manual check requests, interfaces with a client’s enterprise resource planning, procurement and accounts payable systems, and could be used at various stages of the procurement-to-payables process. Buyer Initiated Payments allows the company to pay B2B suppliers electronically on behalf of its clients, permitting its clients to have various control through their payments, extend their own days payable outstanding (or ‘float’), and increase their cash on hand. BIP purchases by its clients include hospital equipment, industrial supplies, and construction and building materials. Airlines have used BIP for purchases of jet fuel. This solution is suited for mid- to large-sized companies that want to transition to electronic payments, reduce supplier inquiries, convert from paper to electronic payments, and optimize cash flow. BIP is available to companies in the United States and Canada. In 2012, the company launched BIP Express, a Web-hosted version of BIP, in Mexico and Germany. In 2012, the company launched PAYVE in the United States, a payment service that enables companies to centralize the processing of multiple payment methods through a single electronic platform. PAYVE enables companies to improve working capital and cash flow management while streamlining accounts payable processes. Online Capabilities GCP offers companies and individual Cardmembers the ability to manage their Corporate Card Programs, and offers companies the ability to manage their B2B Payment Solutions, on a 24/7 basis through a suite of secure Web-based online tools. American Express @ Work provides clients’ authorized users online access to global management information to help them gain visibility into their spending patterns, as well as the ability to make changes to their Corporate Card, Corporate Purchasing Card, BTA, and Corporate Meeting Card accounts. Cardmembers could use the online Manage Your Card Account tool to manage their individual Corporate Card account. B2B Payment Solutions also offers clients the option to use online access to manage their vPayment and BIP solutions. Global Corporate Payments — Regulation In the United States, the company is subject to certain of the federal and state laws applicable to its consumer lending business, including the Equal Credit Opportunity Act and the FCRA (as amended by the FACT Act), as well as laws that prohibit engaging in unfair, deceptive, or abusive acts or business practices. In the United States, it is subject to certain applicable Privacy, Data Protection, and Information Security Laws, including certain requirements related to breach notification. Other countries in which it operates, including those in the European Union, also have certain applicable Privacy, Data Protection and Information Security Laws, in some cases stringent than the requirements in the United States. The company is subject to certain provisions of the Bank Secrecy Act as amended by the Patriot Act, with regard to maintaining effective AML programs. Competition At the payment provider level, the company is seeing increased competition, primarily for mid-sized companies, from both regional banks and national banks, such as Bank of America and JPMorgan Chase. GBT American Express GBT provides integrated solutions, both online and offline, as well as through mobile applications, to help