CURRENT AFFAIRS

Detailed explanation-1: -To eliminate payment through cheques or drafts, American Express launched Buyer Initiated Payments (BIP) electronic payment platform linked to corporate card.

Detailed explanation-2: -Basis points, otherwise known as bps or “bips, ” are a unit of measure used in finance to describe the percentage change in the value or rate of a financial instrument. One basis point is equivalent to 0.01% (1/100th of a percent) or 0.0001 in decimal form.

Detailed explanation-3: -Buyer Initiated Payments (BIP) is an electronic payment method that allows you to leverage your American Express billing cycle to extend payment terms with your suppliers. Use American Express BIP to extend your organization’s DPO ‡ (Days Payable Outstanding), while managing DCOH (Days Cash on Hand).

Detailed explanation-4: -A buyer-initiated payment (BIP) is a business-to-business transaction made with a commercial card whereby the buyer sends a direct credit card payment to a supplier’s bank account, with zero action required by the supplier.