American Express launches ‘Buyer Initiated Payments’ to eliminate cheque, draft payments


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.
What can be the possible questions from above news:

Q1. American Express, a global leader in payment solutions has launched an electronic payment platform linked to corporate card named BIP, what is the full form of BIP?
Share your answer in the comment section
Source- The Hindu

Leave a comment

Your email address will not be published. Required fields are marked *