AMEX ENHANCES B2B PAYMENT AUTOMATION AND SUPPLIER NETWORK
American Express has updated its Buyer Initiated Payments( BIP) solution by adding automated invoice reporting and launching BIP Connect. Through a partnership with Bottomline, BIP Connect connects corporate customers to Paymode, a major US B2B payment network, enabling direct Premium ACH payments with embedded fraud controls across sectors like healthcare, manufacturing and higher education.
The update also introduces automated invoice matching, pulling data directly from vendor systems to accelerate settlement times and reduce error rates. Amex Trendex research highlights that over 90 % of buyers and suppliers view invoice improvements as essential, while 67 % of financial decision-makers say payment inefficiencies hinder organisational growth. Financial leaders report spending 29 to 32 business days annually processing invoices, with manual processes causing high error rates and lost early-payment discounts.