Wednesday, 1 March 2017

American Express Launches ‘Buyer Initiated Payments’ to Avoid Cheque, Draft Payments

American Express Launches ‘Buyer Initiated(पहल) Payments’ to Avoid (टालना) 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) on February 27, 2017 to eliminate (को समाप्त) 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(परंपरागत)  invoice payments. BIP enables companies to increase the Days Payable Outstanding (DPO) while still paying vendors on time. Through the BIP process, vendors will receive the payment as a direct deposit into their bank account along with an electronic notification of the deposit. Presently, the exchange of goods and services between organizations and vendors, involved a tedious (ग़ैरदिलचस्प) task of completing financial enquiries and a period of minimum 60 days to clear payments.

tedious  ग़ैरदिलचस्प Definitions of tedious
too long, slow, or dull: tiresome or monotonous.
a tedious journey
synonyms: boring, dull, monotonous, repetitive, unrelieved, unvaried, uneventful, characterless, colorless, lifeless, insipid, uninteresting, unexciting, uninspiring, uninvolving, flat, bland, dry, stale, tired, lackluster, stodgy, dreary, mundane, monochrome, mind-numbing, soul-destroying, wearisome, tiring, tiresome, irksome, trying, frustrating, deadly, not up to much, humdrum, ho-hum, blah, dullsville, 'same old, same old'

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