American Express To Buy B2B Payment Processing Co. Nipendo

(RTTNews) - American Express Co. (AXP), a financial services provider, said on Thursday that it has signed deal to buy Nipendo, an Israeli business-to-business or B2B payments process company.

Financial terms of the transaction have not been disclosed.

The transaction allows American Express to create an end-to-end B2B platform, to make business payments easy and more efficient as it is building a broader suite of B2B capabilities for both buyers and suppliers through new product development, M&A, and partnerships.

Nipendo's platform allows businesses to easily connect, communicate, and automate Procure-to-Pay processes, including accounts payable and receivable.

The acquisition is expected to conclude within the quarter.