American Express to Acquire Nipendo, a B2B Payments Automation Company
Nipendo is a startup that helps international companies automate and expedite business-to-business (B2B) payment operations. American Express (Amex) recently announced that it had entered a deal to acquire the company.
The deal is American Express’s most recent strategic move toward developing a premier end-to-end B2B platform. The company expects the platform to make business payments more accessible and practical. Through product innovation, M&A, and collaborations, American Express expands its B2B abilities for suppliers and buyers.
The acquisition will expand American Express’s range of services for businesses and help customers with more options for managing their finances.
Businesses may effortlessly connect, interact, and automate Procure-to-Pay operations, including accounts payable and receivable, thanks to Nipendo’s platform. The Nipendo platform integrates with an organization’s current systems, enabling clients to keep their existing payment infrastructure in place. The platform can continue to perform these tasks while gaining further automation. American Express wants to enhance its unique business solutions by integrating Nipendo’s personnel, technology, and skills.
American Express and Nipendo about the Acquisition
Nipendo Co-Founder & CEO Eyal Rosenberg commented, “Businesses can face a number of challenges even before they make a payment, including finding the right suppliers, managing order processes and supply chain, as well as handling discrepancies and invoice reconciliation. These traditionally paper-based processes require heavy investments of time, effort, and money. We are honored to become a part of American Express, excited about the synergy of our mutual vision, and looking forward to serving as an important component of the new business value we can offer by efficiently streamlining B2B payments.”
Anna Marrs, Group President, Global Commercial Services and Credit & Fraud Risk at American Express, expressed her views about this acquisition, “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. With Nipendo, we will strengthen our expertise and capabilities in the space, and their innovative platform will give business customers common ground to connect and transact on the Amex network.”