American Express to scale B2B payments with new acquisition

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 will be the newest addition to a series of B2B payment collaborations, strengthening our accounts payable automation capabilities and equipping our customers with the tools they need to improve the way they process and settle supplier payments
Anna Marrs, President of Global Commercial Services at American Express

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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