Taulia and Lloyds Team Up to Launch Visa-Enabled Virtual Cards Revolutionizing B2B Payments
In an exciting development for the financial services sector, Taulia, a prominent name in working capital management solutions and part of the SAP Group, has partnered with Lloyds, the UK’s leading retail and commercial financial services provider. This collaboration aims to integrate Visa-enabled Virtual Cards into various solutions within the SAP Business Suite, enhancing business payment processes.
Partnership Highlights
Through this new partnership, Lloyds will offer credit to businesses that utilize Taulia’s Virtual Cards solution. This initiative allows companies to issue Virtual Cards to suppliers around the globe, thus streamlining B2B payment transactions. Here are the key highlights:
- Integration of Visa-enabled Virtual Cards into SAP Business Suite solutions.
- Facilitation of seamless payments to suppliers worldwide.
- Enhancement of cash flow management and supplier relationships.
Transforming B2B Payments with Embedded Finance Technology
The integration of embedded finance technology is revolutionizing how businesses incorporate financial services into their operations. This partnership positions Taulia to leverage Visa’s APIs, which will include:
- Virtual payment credentials.
- Acceptance solutions for various payment methods.
- Supplier enablement services directly within ERP applications.
This seamless incorporation allows companies to manage payments more effectively using existing systems.
Benefits of Using Virtual Cards
Opting for Virtual Cards provides businesses with numerous advantages, including:
- Improved supplier relationships: Enhanced trust and cooperation with vendors.
- Reduced fraud risk: Increased security in financial transactions.
- Better cash flow management: Streamlined processes that optimize working capital.
By simplifying payment methods, Virtual Cards create a user-friendly experience that prepares businesses for future growth.
Expert Insights
Danielle Weinblatt, Chief Product Officer at Taulia, stated, “Embedding virtual cards directly within the ERP landscape and having Lloyds as an issuing partner is a game-changer for corporate payments. This collaboration redefines how businesses manage spend, bringing greater control and automation to financial operations.”
Linda Weston, Head of Commercial Cards at Lloyds, added, “We are excited about our partnership with Taulia, which enables truly embedded B2B payment processes in the SAP technology ecosystem.”
Lucy Demery, SVP of Visa Commercial Solutions, emphasized, “Visa’s mission is to be the best way to pay and be paid. This collaboration illustrates how embedded finance can transform commercial payments.”
For more information on Taulia’s solutions, visit Taulia’s official website. To learn more about Lloyds Banking Group, check out Lloyds Banking Group.
