American Express launches 'Buyer Initiated Payments' to eliminate cheque, draft payments
Posted on:03 Mar 2017 09:32:35
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03 March 2017 Current Affairs: American Express, a global leader in payment solutions has launched an electronic payment platform linked to corporate card, Buyer Initiated Payments (BIP) to eliminate payment through cheques or drafts.
The BIP card will help organizations and their vendors by reducing the processing cost and offer extended payment terms compared to traditional invoice payments.
BIP enables companies to increase the Days Payable Outstanding (DPO) while still paying vendors on time.
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