Taulia has launched its virtual card B2B payments solutions in partnership with Mastercard. The aim is to give businesses additional working capital management advantages. These include the ability to maximise cash flow and minimise payment uncertainty.
Following Taulia virtual cards’ seamless integration across SAP ERP solutions, corporates can streamline previously cumbersome payment-related tasks more effectively and affordably.
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Initially, two major banks – Degussa Bank and HSBC – are set to participate. Taulia customers will benefit through their existing issuer relationships. This means customers can deploy virtual cards and extend the current benefits offered by their own banks through Taulia. At the same time, they will enjoy the speed, controls, and efficiency of virtual card payments.
‘Bring your own bank’ capability
This “bring your own bank” capability is made possible by Taulia’s integration with Mastercard’s innovative virtual card platform, connected with more than 80 banks globally.
This partnership will allow Taulia to expand its working capital solutions for businesses. Leveraging virtual cards generated through Mastercard upon request, provides significant time and cost savings to corporates seeking more consumer-grade user experiences in their enterprise platforms.
Through the tightly integrated virtual card experience, businesses benefit from greater spend control and more options to pay suppliers efficiently. On the other end, suppliers gain improved cash flow and enhanced visibility, alleviating friction across B2B transactions.
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By GlobalDataA fully embedded working capital management solution prioritising CX
Danielle Weinblatt, Chief Product Officer, Taulia, said: “We are delighted to be partnering with Mastercard. It doubles down on our commitment to transform the world of global trade and commerce by bringing our customers a fully embedded working capital management solution that prioritises the customer experience.”
Rebecca Meeker, SVP, Global Partnerships and Segments, Mastercard, added: “Fragmented B2B payment practices have held businesses back for too long. Virtual cards accelerate automation and support cash flow through increased access to working capital. This is why Mastercard is thrilled to work with Taulia and its banking partners to extend the benefits of virtual cards while prioritising customer experience.”
Arati Kurien, Global Head of Commercial Cards Product Management, HSBC, said: “We’re pleased to be embracing innovation through our partnerships with Taulia and Mastercard. This will now provide our clients with an integrated virtual card payment solution within the Taulia platform. Embedding HSBC’s financial services into the systems that our clients use day to day is a key focus for us.”
Matthias Weiß, Board Member, Degussa Bank AG, added: “We are very excited to provide our customers an SAP-integrated virtual credit card solution. We are looking forward to a successful partnership with Taulia to grow our German procurement footprint.”
