Visa has accelerated its activity in embedded finance by partnering with Taulia, a subsidiary of German software developer SAP, in an international agreement targeting multiple business sectors.
Under the terms of the partnership, VIsa’s digital payments tech will be incorporated into Taulia Virtual Cards, a solution utilising the SAP enterprise resource planning (ERP) software.
The partners’ stated goal is to simplify payments across a worldwide business ecosystem and drive value through embedded finance capabilities.
Taulia Chief Product Officer, Danielle Weinblatt, added: “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.”
Further specifics of the partnership will see Visa’s APIs embed virtual payment credentials, acceptance and enablement solutions directly into SAP business applications.
The deal is the latest in a series of partnerships Visa has entered into this year, with the company targeting an enhanced profile across a number of different sectors of global finance.
This has included a cryptocurrency deal with Transack, a card issuing arrangement with Fibank, an SME-focused partnership with Detected and a seven-year extension with Western Union.
Alan Koenigsberg, SVP, Global Head of Large, Middle Market Segments and Working Capital Solutions at Visa, said: “We are thrilled to partner globally with SAP/Taulia to embed our digital payment solutions into workflows across this impressive ecosystem.
“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.”
