Visa, a global leader in digital payments, and Taulia, an SAP company and leading provider of working capital management solutions, have announced a new partnership to provide businesses worldwide with access to embedded financial solutions. The collaboration will integrate Visa’s digital payments technology into Taulia Virtual Cards, a solution that integrates with SAP enterprise resource planning (ERP) solutions and business applications to provide buyers and suppliers with a seamless and streamlined payment experience.
The partnership between Visa and Taulia simplifies payments across the entire business environment by allowing virtual payment cards to be used natively in SAP business applications. Through the planned integration, Visa’s APIs will embed virtual payment credentials, acceptance and enablement solutions directly into SAP business applications. The resulting synergies strengthen the role of the financial institution as an issuer and the ERP relationship with the corporate customer, creating further added value through embedded financial functions.
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Companies are turning to embedded virtual card solutions to create a seamless payment experience that allows users to stay within their ERP or business applications to increase efficiency. The joint solution will help CFOs, procurement and accounts payable teams automate payments to suppliers, which is particularly useful when paying one-off suppliers as it eliminates the need to create complete master data in the system – a process that can take weeks or even months can. Suppliers benefit from improved cash flow and increased transparency, reducing friction in B2B transactions. This new partnership and the resulting solution replace a previously manual coordination process for buyers.
“We are excited to partner with SAP/Taulia globally to embed our digital payment solutions into the workflows of this impressive ecosystem,” said Alan Koenigsberg, SVP, Global Head of Large, Middle Market Segments and Working Capital Solutions at Visa. “By partnering with SAP/Taulia, we create synergies in working capital management and the opportunity to integrate a best-in-class ERP provider. We are confident that we are creating an excellent payment automation experience for both buyers and suppliers and at the same time Eliminate cumbersome processes that take time away from the most strategic tasks that drive growth.”
SOURCE: Businesswire