Firm acquires Digital Payment Automation platform Acompay from ACOM Solutions
American Express announced its acquisition of payment automation software acompay, from ACOM Solutions, Inc., to help businesses smoothen out supplier payments and manage business spend.
“acompay will be the newest addition to a series of B2B payment collaborations, strengthening our accounts payable automation capabilities and equipping our customers with the tools they need to improve the way they process and settle supplier payments,” said Anna Marrs, President of Global Commercial Services at American Express.
“Our customers are increasingly looking for turn-key, automated solutions to pay their suppliers,” continued Marrs. “Enabled by our integrated network of buyers and suppliers and a growing suite of partnerships and capabilities, American Express can provide digital payment tools and working capital that make it easy to pay suppliers anywhere in the world. The acquisition of acompay represents an important milestone in our strategy to become essential to how our customers pay for and finance what they need to grow their businesses.”
acompay is a payment solution for accounts payable departments – the ones which manage larger transactions and are used by businesses to automate regular payments. The platform integrates with enterprise resource planning or accounting systems and supports check, automated clearing house (ACH), and card payments – providing a one-stop management solution for payments.
“We’re excited to have acompay reach even more business customers as part of a world class suite of American Express financial products that help improve the way businesses of all sizes make their digital payments. Going forward, ACOM Solutions will continue to operate as it does now, supporting our core products including; EZPay Suite, EZConnect, EZ Content Manager, Document Management and all other products not related to acompay.”
Through this acquisition, American Express is continuing to scale their B2B payments and working capital business – providing better utility and functionality to businesses around the world, particularly to their B2B customer segment. The acquisition is subject to customary closing conditions and is expected to close in the second half of 2019.