American ExpressBuyer Initiated Payments

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Features & Benefits

Smooth, Swift Remittance

American Express maintains direct relationships with all of our suppliers. By managing the payment process through our network, you gain straight-through processing for BIP settlements. As soon as you approve a payment, funds are deposited directly into the supplier’s account with full remittance information provided. You will receive an electronic confirmation file that can be uploaded directly to any enterprise resource planning or financial system.

Keep Cash On-Hand Longer

Using BIP to settle payments with suppliers allows you to optimize your working capital by extending Days Payable Outstanding (DPO). Make payments through American Express today and keep cash on- hand until the statement is due. BIP’s digital payment method allows you to make payments while giving you up to 30 days float.

Improve Supplier Relations

BIP payments benefit your business and that of your suppliers. American Express is the only financial institution in Canada that maintains direct relationships with buyers and suppliers. This results in increased efficiency and satisfaction for both parties. Suppliers who accept BIP benefit from:

  • Increased cash flow: Accelerated electronic payments from buyers reduce Days Sales Outstanding (DSO)
  • Better forecasting: Knowing when payments will arrive makes the cash conversion cycle more predictable
  • Efficiencies: Reduce cost and time spent processing paper cheques
  • Customer loyalty: Encourage repeat and increased customer spend by accepting easy BIP payments
  • Improved transparency: Our web-based payment tool includes reconciliation reporting that simplifies tracking customer payments

Save Money With Electronic Payments

Save money and employee time by paying targeted suppliers electronically. BIP not only makes reconciliation easier with a consolidated monthly file, but it also eliminates the labour-intensive process of processing cheques, managing returned mail and handling uncashed or re-issued cheques.

Increase Security

BIP solutions add security with your suppliers. Your account information remains in your hands thanks to electronic payments that don’t require your suppliers to “swipe” a card.

Gain Insights Through Analytics With Spend IQSM

With the BIP solution you can access our proprietary Spend IQ analytics service. Spend IQ utilizes technology and predictive intelligence to deliver a strategy for payment process improvement. Combined with BIP, it can help you to identify and target best-fit suppliers and help them enrol in BIP. We also can help implement and manage your payment solution program.

Get Functionality Without Integration With BIP Express

Reduce start-up time and system integration by choosing American Express BIP Express. Our password-protected portal keeps information secure while giving you online access to a single electronic payment tool. BIP Express is designed for small- to mid-size business and companies that do not want to integrate a solution with their in-house systems.

American Express
Buyer Initiated Payments
Benefit Terms

DPO Extension: 30+ days of float extension depends on billing cycle, date of purchase and date of payment.