American Express adds BIP Connect and automated invoice reporting to improve B2B payments for buyers and suppliers.
American Express has added new capabilities to its Buyer Initiated Payments offering to improve how businesses manage supplier payments.
The update includes BIP Connect, a new feature that links eligible American Express BIP customers to Paymode, Bottomline’s B2B payment network.
Buyer Initiated Payments allows businesses to initiate electronic payments to suppliers as an alternative to paper checks and ACH.
With BIP Connect, eligible customers can access Paymode’s network of authenticated and verified suppliers, helping streamline supplier onboarding, improve payment efficiency and reduce risk.
Businesses can initiate payments through their existing American Express BIP account, while suppliers receive funds through Paymode’s Premium ACH.
American Express has also added automated invoice reporting within BIP. The capability uses supplier system data to help match invoices to payments, improve visibility into invoice status and support more accurate, on-time payments.
The update reflects growing demand for more automated B2B payment workflows as companies look to reduce manual processes, improve working capital visibility and create a smoother experience for both buyers and suppliers.
