Visa (NYSE:V) and Taulia, an SAP company, announced a new partnership to make embedded finance accessible to businesses around the world.
The partnership will integrate Visa’s digital payment technology into Taulia virtual cards, a solution that integrates with SAP enterprise resource planning (ERP) solutions and business applications for a seamless and enhanced payment experience for buyers and suppliers.
Visa and Taulia’s partnership will simplify payments across the business ecosystem by enabling virtual payment credentials to work natively in SAP business applications. Through the planned integration, Visa APIs will integrate virtual payment credentials, acceptance and activation solutions directly into SAP business applications.
The synergies created strengthen the financial institution’s role as Issuer and the ERP relationship with the corporate customer, driving further value through integrated financial capabilities.
Enterprise buyers are turning to embedded virtual card solutions to deliver a seamless payment experience where users can stay in their ERP or business applications to recognize bulk returns. The joint solution will help CFOs, procurement and accounts payable teams to automate payments to suppliers, which is particularly useful for paying one-off suppliers as this eliminates the need to create complete master data in the system, a process that can last weeks or even months.
Suppliers will gain improved cash flow and improved visibility, reducing friction between B2B transactions. This new partnership and resulting solution replaces a historically manual agreement process for buyers.
“We are excited to partner globally with SAP/Taulia to integrate our digital payment solutions into workflows in 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 are creating synergies in working capital management and enabling a world-class ERP provider. We believe we’re creating a best-in-class payment automation experience for both buyers and suppliers while removing cumbersome processes that take time away from the more strategic work that drives growth.”
Taulia Chief Product Officer Danielle Weinblatt said, “Our partnership with Visa further demonstrates our commitment to delivering a customer-centric virtual card experience. Visa’s leading capabilities and vast network will enable us to innovate and help our customers around the world advance their journey with progressive working capital technology.”