Business Spend Management (BSM) solutions provider Coupa Software has added Citi Commercial Cards as a partner in its Coupa Pay offering.
A part of Citi’s Treasury and Trade Solutions (TTS) business, Citi Commercial Cards issues self-owned and managed corporate cards across 100 countries. It is also the first global virtual card provider to be integrated with Coupa Pay.
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The partnership aims to leverage Citi’s global network and enable businesses with a more efficient way to manage payments.
The customers can utilise Citi’s single Virtual Card Account (VCA) platform to support payments through Coupa BSM Platform. Such payments can be made across multiple regions and in several currencies.
Coupa business acceleration senior vice-president Ravi Thakur said: “We are thrilled to partner with Citi Commercial Cards as we continue to grow the Coupa Pay offering to meet the needs of our customers.
“Citi’s reach as a global issuer will enable us to offer even more of our customers and suppliers around the world with an incredibly fast, simple, and secure payments solution.”
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By GlobalDataThe joint customers can use their existing banking credentials and integration with the Coupa platform to simplify the implementation process.
The ‘pre-integration’ of virtual cards also reduces complexities and additional technological or process changes.
Overall, the collaboration will help the customers to higher operational efficiency and flexibility in managing cash flow. On the other hand, the suppliers will receive faster payments for goods and services.
Citi Commercial Cards global head of product and sales Paul Horn said: “This partnership is rooted in Citi and Coupa’s shared focus on empowering customers with the tools they need to be successful.
“With our global single-use virtual card offering available through Coupa Pay, businesses will have powerful real-time controls and safeguards against unauthorised spend, helping prevent fraudulent purchases and simplify reconciliation, all in support of faster, simpler management of business payments.”
