Barclaycard teams with SAP for corporate payments

Monday 18 February 2019 00:34 CET | News

Barclaycard has announced a partnership with SAP Ariba for corporate payments.

There’s no specific date but the integration, to become available later in 2019, will bring procurement and payment together in one place, Ariba Network.

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. Buyers could also get access to flexible working capital.

For example, instead of having to pay the supplier directly, Barclaycard says it could fund the payment, and then the buyer would typically have up to 56 days to pay the balance.

In addition, customers of SAP Ariba solutions who use Precisionpay will get access to data-led procurement insights powered by the SAP Cloud Platform and the SAP Analytics Cloud solution.

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Keywords: Barclaycard, partnership, Sap Ariba, corporate payments, working capital, procurement
Countries: World