American Express said it agreed to buy Acompay, a digital payment automation platform that helps companies make supplier payments and improve cash flow, from Acom Solutions Inc.  

Acompay was launched in 2016 as a digital payment automation product for accounts payable departments. The platform supports card, ACH and check payments and integrates with corporate enterprise resource planning departments. 

"Our customers are increasingly looking for turnkey, automated solutions to pay their suppliers," Anna Marrs, president of global commercial services at American Express, said in the press release.

The acquisition is scheduled to close later this year. Terms of the agreement were not disclosed.