The news: American Express agreed to acquire Israel-based B2B payments automation firm Nipendo for an undisclosed amount, per a press release.
Nipendo integrates with businesses’ existing payment infrastructure and specializes in B2B activities like accounts payable (AP), invoice automation, supplier relationship management, and supplier onboarding.
Why it’s worth watching: Despite being a multitrillion-dollar industry, the B2B payments sector still relies on manual processes that can lead to pain points like invoice errors, late payments, and inaccurate cash-flow visibility.
The opportunity: The B2B payments space is ripe for disruption, and Nipendo’s technology can help Amex tap this opportunity and improve its value proposition to businesses.
The bigger picture: Amex’s latest acquisition highlights the firm’s growing push into B2B payments.
Related content: Check out our “Accounts Payable and Receivable Automation” spotlight report to learn more about how automation helps streamline B2B payments.
This article originally appeared in Insider Intelligence's Payments Innovation Briefing—a daily recap of top stories reshaping the payments industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.
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