Discover Financial Services has partnered with spend management company JAGGAER to launch a new business-to-business (B2B), procure-to-pay solution.
The new solution combines Discover Global Network’s settlement capabilities and global network with JAGGAER ONE platform’s spend management capabilities.
Go deeper with GlobalData
As part of the collaboration, Discover Global Network will support payments made on JAGGAER ONE Platform, which includes more than 2,000 customers and four million suppliers across 70 countries.
In addition, the partners intend to offer virtual card numbers as a solution next year, followed by additional payment methods.
JAGGAER chief technology officer Zia Zahiri said: “JAGGAER and Discover have a long history of listening to customers and are entering into a synergistic relationship to deliver the full value of virtual cards, with features that enable reconciliation. We know that our shared customer base will embrace our drive to take payment processing to the next level.”
Buyers will be able to leverage the new procure-to-pay solution to generate purchase orders, receive invoices and send payments. Meanwhile, merchants can get remittance information.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataFurthermore, the solution can be used to process payments in a single system instead of working on several procurement systems.
Discover vice-president of Partnership Business Development William Dulin said: “Continuing to build our commercial payments portfolio through a relationship with JAGGAER showcases our commitment to bring the best payments solutions to all transaction types.”
In January this year, Discover formed an alliance with Garmin International to facilitate contactless payments for its cardholders via Garmin Pay.
