American Express OPEN, the small business division of American Express, has launched AcceptPay, an online invoicing and payment solution that can help business owners improve cash flow at a time when customers are taking a longer time to pay.
American Express OPEN partnered with PaySimple, a provider of SaaS, to design AcceptPay. OPEN and PaySimple worked with business owners to create product features and integrated feedback from product test groups.
AcceptPay is a new online solution that allows business owners to create, send and track invoices, all in one place. Through AcceptPay, customers can pay the invoice through a variety of methods, including major credit and debit cards, eChecks, cash or checks. Resulting payments are deposited directly into the business owner’s bank account.
Mary Ann Fitzmaurice Reilly, SVP of American Express OPEN, said: “At a time when every dollar counts, business owners need tools and resources to help them better manage their firms’ finances, and that is why we created this innovative payment collection solution that can help them get paid faster. AcceptPay further demonstrates our commitment to offering entrepreneurs a full range of products and services that can help them manage through the recession and grow their enterprises.”
