Amex to acquire digital payment automation platform Acompay
American Express has plans to strengthen its accounts payable automation capabilities by acquiring digital payment automation platform, Acompay, writes Jane Connolly.
Pymnts.com reports that subject to customary closing conditions, the deal to buy Acompay from ACOM Solutions will close in the second half of 2019
The platform integrates with resource planning or accounting systems and supports cheque, automated clearing house (ACH) and card payments.
American Express says the deal is the latest in a series of B2B payment collaborations to help businesses make payments and improve cash flow.
“Our customers are increasingly looking for turn-key, automated solutions to pay their suppliers,” says Anna Marrs, president of global commercial services at American Express.
She adds: “The acquisition of Acompay represents an important milestone in our strategy to become essential to how our customers pay for and finance what they need to grow their businesses.”
ACOM Solutions will continue to operate as before to support its other products that are not related to Acompay.