Barclaycard has formed a strategic partnership with SAP (UK), which will see Barclaycard integrate its award-winning B2B payment product, Precisionpay, into SAP Ariba, the B2B marketplace.
The integration, which will become available later this year, will bring procurement and payment together in one place,
With Precisionpay Bank Transfer, buyers will be able to pay suppliers much earlier in the procurement cycle, improving supplier relationships, and allowing them to take advantage of any prompt payment discounts. Buyers could also benefit from access to flexible working capital; instead of having to pay the supplier directly,
Jens Amail, SAP’s managing director UK and Ireland, said: “Barclaycard is a long-term strategic partner for SAP and we’re taking this partnership to the next level by collectively redefining the corporate payments market with a highly innovative platform. The introduction of early settlement flexibility will truly revolutionise the industry and bring so much more value to Barclaycard customers.”