American Express expands the suite of global business payment capabilities through the acquisition of acompay
American Express to scale B2B payments with new acquisition. Source: shutterstock.com
American Express announced it signed an agreement to acquire acompay, a digital payment automation platform from ACOM Solutions, Inc., that helps business customers make supplier payments easily and securely, manage business spend, and improve cash flow.
acompay was developed in 2016 as a digital payment automation solution for accounts payable (AP) departments. The platform integrates with enterprise resource planning or accounting systems and supports check, automated clearing house (ACH), and card payments.
Through this acquisition, American Express is continuing to scale their B2B payments and working capital business. The acquisition is subject to customary closing conditions and is expected to close in the second half of 2019.
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