Visa and SAP join forces to make enterprise payments more efficient

Visa announced it has entered into a collaboration with SAP to streamline and simplify business-to-business (B2B) payments for enterprises, from businesses small to big, to government agencies and non-profit organisations. 
The collaboration, led out of Asia Pacific, marks the first time Visa, the world’s leading company in digital payments, and SAP, one of the world’s market leaders in enterprise application software, join forces to bring to life an innovation to embed payments into the SAP ecosystem through SAP Business Technology Platform (SAP BTP). 

Around 99 percent of the world’s largest companies are SAP customers.This collaboration sets the stage for Visa and SAP to explore embedded finance in the B2B market, helping integrate a financial journey into business operations. Visa estimates that opportunities to digitise B2B payment flows today represent more than US$ 50 trillion across Asia Pacific.
For Visa, the move is in line with its strategy to increase its footprint in the B2B space, supporting broader money movement flows between individuals, businesses and governments, beyond consumer payments. This includes accounts receivable and payable flows, corporate payments with card-based solutions and cross-border payments. 
“The movement of money is becoming increasingly digital, but the bulk of transformation has been focused on the consumer space,” Stephen Karpin, Regional President of Asia Pacific, Visa, said.  “There is an urgent need to modernise the way enterprises pay and enhance the B2B payment experience.

Our collaboration with SAP is an exciting step in making B2B payments simpler and more intuitive as organisations can make payments immediately on SAP platforms with their Visa corporate cards, instead of having to leave their existing enterprise ecosystem and to navigate the different payment methods that their vendors accept. B2B payments need to be intuitive, speedy and fuss-free, so organisations can spend time and resources on other aspects of their businesses.”