Visa 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 per cent 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 $50 trillion across Asia Pacific.1
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,” said Stephen Karpin, Regional President of Asia Pacific, Visa.
“Our collaboration with Visa endeavours to streamline and simplify the B2B payment process and drive further efficiencies for our joint customers,” said Paul Marriott, President of SAP Asia Pacific Japan.