American Express to acquire B2B payments automation company Nipendo

American Express announced that it has entered into an agreement to acquire Nipendo, a company used by global businesses to automate and streamline business-to-business, B2B, payments processes. The transaction is American Express’ latest strategic step toward its goal of creating a leading end-to-end B2B platform, making business payments simpler and more efficient. Nipendo’s platform allows businesses to easily connect, communicate, and automate Procure-to-Pay processes, including accounts payable and receivable. "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," said Anna Marrs, Group President, Global Commercial Services and Credit & Fraud Risk at American Express. "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." The acquisition is subject to customary closing conditions and is expected to close within the quarter.