Barclaycard Partners with SAP to Simplify Corporate Payments
World’s largest B2B marketplace integrates Barclays’ payment solution. Source: shutterstock.com
Barclaycard Commercial Payments, part of Barclays Bank PLC, announced a strategic partnership with SAP UK Limited. The partnership will see Barclaycard integrate its B2B payment product, Precisionpay, into SAP Ariba solutions, the world’s largest B2B marketplace for modern business.
The integration, to become available later this year, will bring procurement and payment together in one place, Ariba Network, giving users an end-to-end procurement experience. The first Barclaycard product to launch within Ariba Network will be Precisionpay Bank Transfer, which combines the perks of card payments for buyers with the cost-effectiveness of bank transfers for suppliers.
With Precisionpay Bank Transfer, buyers will be able to pay suppliers much earlier in the procurement cycle, improving supplier relationships and allowing them to take advantage of any prompt payment discounts.
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