Collaboration between networks and fintechs continues as Stockholm-based Payer, an IT company that consults in the areas of smart payment and post-purchase solutions for the e-commerce industry, will facilitate American Express B2B digital payments in the Nordics, as covered by the Paypers.
In effect, “companies using Payer as a B2B digital payments platform will now be able to accept American Express cards as a payment method for all purchases and services.” This affords Amex greater access to Europe and expands Payer options for payments acceptance, which fits in with other offerings. One of those is an accounts receivable automation service with invoicing that now allows Amex clients to pay these invoices with a card.
The piece goes on to explain that American Express is now also able to onboard new customers in India. Amex has been under these restrictions since May 2021, when the RBI cited them for violation of local data-storage rules. Many readers will know that India tightened these rules in 2018 and has been very strict in their enforcement. The piece does not provide any details as to how Amex got back into the compliance lanes, but obviously they can now resume building payments business growth in the rapidly growing e-payments market.
Overview by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group.
