American Express® Buyer Initiated Payment
Working capital optimisation for you. Peace of mind for your suppliers.
When it comes to managing the complexities of your business’ cash flow, Buyer Initiated Payment (BIP) allows you to stay in control of every aspect of it.
Buyer Initiated Payments (BIP) automates payments to your suppliers within your existing invoice approval workflow - helping you eliminate errors while reducing time and costs from your payment process.
Why American Express® Buyer Initiated Payments?
BIP gives you the data and insights needed to manage your business. Track spending and increase efficiencies whilst easily integrating into your existing systems.
BIP enables you to choose the timing and amount of each payment, improving cash flow predictability.
Manage days cash on hand by extending Days Payable Outstanding by up to 58 days,
improving cashflow. Making payments with BIP can reduce your supplier's Day Sales Outstanding and improve their Accounts Receivable process.
How does American Express® Buyer Initiated Payments work?
The buyer uses the web-based Buyer Initiated Payments (BIP) platform to schedule payments of approved invoices to
American Express processes the payment on the scheduled date and deposits funds into the supplier's designated
Account within five business days. A remittance advice is sent to the supplier.
The BIP platform updates with
real-time payment information. BIP Enterprise customers receive an automatic confirmation of payment.
The buyer pays American Express, extending DPO by up to 58 days.
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American Express Buyer Initiated Payments is an automated web portal that lets buyers quickly and efficiently schedule payments to suppliers. It can integrate easily into your Enterprise Resource Planning (ERP) software without disrupting your existing Accounts Payable (AP) process.
Buyer Initiated Payments can have benefits for buyers and suppliers. For buyers, it can extend Days Payable Outstanding (DPO) by up to 58 days, offering more cash-flow flexibility to help manage business operations. It can also help streamline Accounts Payable processes by consolidating the bulk of supplier payments into one easy-to-use online platform and improve relationships with suppliers by helping ensure that they’re paid on time or early—which can also allow buyers to take advantage of early-savings discounts. For suppliers, a BIP Account can help reduce Days Sales Outstanding (DSO), which may help increase liquidity by creating more cash-on-hand.
With BIP, processing costs can be assumed by the buyer or the supplier—or shared between them.
An American Express BIP programme can help buyers save by reducing administrative costs associated with managing multiple payment platforms, helping ensure compliance with company payment policies, and creating visibility into spending. Accelerating payments to suppliers can also let you take advantage of early payment discounts and create a strong position to negotiate volume payment incentives.
BIP Express is a web portal that allows buyers to log in and schedule single supplier payments or upload a spreadsheet for multiple payment processing. BIP Enterprise automates the delivery of a payment instruction file from the Buyer’s Enterprise Resource Planning (ERP) platform to the BIP platform.
American Express® vPayment
A virtual payment solution assigning a specific-use Account number and preauthorised amount per transaction.
Corporate Purchasing Card
Consolidate multiple employee expenses and process them as one easy payment.
1. The number of days by which your DPO is extended will vary depending on: (i) when during your American Express Card billing cycle you charge a transaction to a supplier; (ii) the date the transaction is posted to your account; and (iii) the date you pay the amount due on your American Express billing statement.
2. DSO reduction varies depending on the agreed terms upon which your customer makes payment using BIP.