American Express has entered into an agreement to purchase Nipendo, a startup utilized globally by enterprises to automate and expedite business-to-business (B2B) payment operations. The acquisition will help American Express expand its offerings and further enhance the payments process for its business customers.
This acquisition is American Express’ most recent strategic move toward its objective of developing a premier end-to-end B2B platform that would make business payments easier and more effective. Through new product development, M&A, and collaborations, American Express is expanding its B2B capabilities for suppliers and buyers.
Nipendo’s platform makes it simple for companies to connect, interact, and automate Procure-to-Pay processes, such as accounts payable and receivable. The Nipendo platform integrates with an organization’s current systems, enabling clients to keep their current payment infrastructure in place while gaining more automation. American Express wants to enhance its unique business offerings by integrating Nipendo’s personnel, technology, and skills.
“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”, said Anna Marrs, Group President, Global Commercial Services and Credit & Fraud Risk at American Express.
Nipendo’s team will join American Express as part of the acquisition and will continue to develop the platform and technology. The move is expected to benefit both American Express and Nipendo, as the latter will gain access to American Express’s large customer base and resources, while American Express will benefit from Nipendo’s advanced technology and expertise.
Eyal Rosenberg, Co-founder and CEO, Nipendo, said, “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.”