In doing so, Coupa will commence partnering with J.P. Morgans Single-Use AccountsSM (SUA) as a card issuer of virtual card solutions. This will provide businesses with greater visibility and control into their payments process. As such, clients will gain greater insight into their spend, control and security, and automated reconciliation, while suppliers will be paid faster, experience a streamlined accounts receivable process, and receive better data for reconciliation.
By using Coupa Pay with J.P. Morgans SUA solution, a user requests a virtual card, submitting a purchase requisition through Coupa. After this is approved, a unique SUA credit card number is generated for the authorised supplier and amount. Coupa automatically reconciles the resulting charges and statements back to the purchase order. Moreover, businesses can pay suppliers upfront without affecting cash flow or tying up important capital.
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