AmEx is to buy B2B payments automation firm Nipendo
IN BRIEF:
This is part of American Express’ latest step towards creating an end-to-end B2B platform
Nipendo allows businesses to easily connect, communicate, and automate Procure-to-Pay processes, working alongside a company’s existing systems and allowing customers to maintain their current payments infrastructure
American Express intends to integrate Nipendo’s team, technology, and capabilities to expand its differentiated offerings for businesses
What does this mean?
Anna Marrs, Group President, Global Commercial Services and Credit & Fraud Risk at American Express says, “our extensive direct relationships with both buyers and suppliers puts us in a unique position to transform the way companies pay for goods and services. We are taking the friction out of B2B payments, paving the way for faster, more efficient, and transparent transactions”.
