The platform is aimed to help business customers make supplier payments, manage business spend, and improve cash flow.
acompaytm was developed in 2016 as a digital payment automation solution for accounts payable (AP) departments. The platform integrates with enterprise resource planning or accounting systems and supports check, automated clearing house (ACH), and card payments.
The acquisition is subject to customary closing conditions and is expected to close in the second half of 2019.
Earlier in July 2019, American Express Middle East has announced the introduction of contactless payment technology across cards issued starting with July 2019.
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