American Express is acquiring procure-to-pay automation platform Nipendo to boost the capabilities of its own business payments platform, the company announced.
Israel-based Nipendo automates and cuts paperwork from processes and interactions in B2B payments, and American Express plans to integrate the company's team, technology and capabilities into its own offerings. Amex expects the deal will close during this quarter, pending customary closing conditions. Financial terms were not disclosed.
Amex has been working to build its B2B payments platform over the past few years, including the launch last month of a digital payments ecosystem, Amex Business Link, for issuers and acquirers to offer their business customers.