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Payments General

AMEX, SAP Ariba to offer procure-to-pay solution for corporate customers

Thursday 4 April 2019 | 10:34 AM CET

American Express and fintech SAP Ariba have signed a multi-phased partnership designed to offer payment and financing options on Ariba Network.

As a network extension partner, American Express will leverage Ariba Network APIs to enable its virtual Card capabilities within the SAP Ariba process and platform to facilitate commerce, secure payments, and easy reconciliation between businesses on a single platform. Through this new integration available later this year, businesses will have the opportunity to use their existing American Express Corporate Cards to generate virtual Card payments, enabling customers to get started without the need to set up and maintain a separate standalone account.

The new benefits for buyers will include the ability to set a payment amount and timing of each payment, as a result of token-based virtual access and usage controls, improved working capital to manage cash conversion cycles, and greater payment status visibility and data enhancements.

For suppliers, this partnership will also allow for improved collections with reduced risk of fraud, as a result of token-based virtual access controls and improved reconciliation through detailed virtual Card remittance information

More: Link
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