New partnership brings seamless execution and reconciliation of b2b payments
SAN FRANCISCO--(BUSINESS WIRE)--Mar. 12, 2024--
Visa (NYSE:V), a global leader in digital payments, and Taulia, an SAP company, and a leading provider of working capital management solutions, have announced a new partnership to make embedded finance accessible to businesses worldwide. The collaboration will incorporate Visa’s digital payments technology into Taulia Virtual Cards, a solution that integrates with SAP enterprise resource planning (ERP) solutions and business applications for a seamless and streamlined payments 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 across 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 synergies created reinforce the financial institution’s role as Issuer, and the ERP relationship to the corporate client, driving further value through embedded finance capabilities.
Corporate buyers are turning to embedded virtual card solutions to deliver a seamless payment experience, in which users can remain in their ERP or business applications to recognize mass efficiencies. The joint solution will help CFOs, procurement and accounts payable teams automate payments to suppliers, which is especially helpful for paying one-time suppliers as this eliminates the need to create full master data in the system, a process that can take weeks or even months. Suppliers will gain improved cash flow and enhanced visibility, alleviating friction across B2B transactions. This new partnership and resulting solution replace a historically manual reconciliation process for buyers.
"We are thrilled to partner globally with SAP/Taulia to embed our digital payment solutions into workflows across 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 enablement of a world class ERP provider. We believe that we are creating a best-in-class payments automation experience for buyers and suppliers alike, while removing cumbersome processes that take time away from the most 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-edge capabilities and vast network will allow us to innovate and help our customers around the world advance on their journey with forward-thinking working capital technology.”
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
About Taulia
Taulia is a fintech provider of working capital management solutions headquartered in San Francisco, California. Taulia helps companies access value tied up in their payables, receivables, and inventory. Taulia’s platform and network of more than 3 million businesses enables customers to execute their working capital strategies, support their suppliers with early payment, and contribute to building sustainable supply chains. Taulia processes more than $500 billion each year and is trusted by the world’s largest companies, including Airbus, AstraZeneca, and Nissan. In March 2022, Taulia became part of SAP. For more information, please visit www.taulia.com.
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David Thum
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Source: Visa Inc.