Following this announcement, the partnership is set to issue Visa-enabled Virtual Cards that are embedded across a range of solutions available with the SAP Business Suite.
In addition, Lloyds is set to extend credit to customers who have purchased the Taulia Virtual Cards solution, a process which will allow companies to issue virtual cards to suppliers worldwide in a fast and secure B2B payment process. By combining Taulia’s scalable technology with Lloyds’ reach, the partnership will also provide an optimised and fully embedded payment solution that caters to UK customer needs.
As Embedded Finance technology integrates financial services into non-financial platforms and applications, it is also a transformative force for businesses seeking to enhance their operations while delivering an improved and secure customer experience. With this in mind, this partnership will enable Taulia to utilise Visa’s APIs in order to integrate Visa virtual payment credentials, acceptance solutions, and supplier enablement services directly and safely into the end-user’s business and enterprise resource planning (ERP) applications.
In addition, virtual cards can improve the manner in which companies and businesses open new opportunities for development and the process of attracting customers. At the same time, they can be leveraged in order to simplify payment processes, making them more user-friendly while helping firms to work smarter. This collaboration between Taulia and Lloyds is set to enable virtual cards that improve supplier relationships, reduce the overall risk of fraud, as well as make the procedure of managing cash flow much easier and keep payment systems ready for future developments.
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