American Express launched payment solution to improve cash flow

American Express OPEN, the small business division of American Express, has announced a launch of AcceptPay, an online invoicing and payment solution designed in cooperation with PaySimple, a leading provider of SaaS (Software as a Service). a new payment solution is created to help business owners improve cash flow at a time when customers are taking a longer time to pay.

According to the American Express OPEN Small Business Monitor, a semi-annual survey of business owners, 60% of small business owners have cash flow concerns, with 20% of business owners reporting that the ability to pay bills on time is the most significant cash flow issue. In addition, 32% of small business owners are most likely to be more aggressive in collecting accounts receivable in order to improve cash flow – the most popular tactic of those offered in the survey.

Speaking about AcceptPay it should be noted that there is no set up fee, and the service is priced at $20/month. Any business owner can also register for AcceptPay Lite, which is a free invoicing-only solution that provides the opportunity to test the product.
 

Source: American Express OPEN