Supply chain finance company Taulia is set to offer its users a new payment option with the launch of a virtual payment card solution. Partnering with Mastercard, the California-based company will integrate this tool across major enterprise resource planning (ERP) solutions. The launch is being piloted by Degussa Bank and HSBC.
The virtual payment card will enable Taulia clients to generate virtual cards through Mastercard upon request. This feature will not only save time but also enhance the customer experience for businesses and their employees. Moreover, it will provide businesses with more options to pay suppliers and control employee spending. Suppliers, on the other hand, will benefit from improved cash flow and better visibility of payments.
What sets Taulia’s virtual payment card solution apart is its “bring your own bank” feature. This allows Taulia clients to deploy virtual cards and extend the benefits of their existing banks. Mastercard’s virtual card platform, which connects to over 80 banks worldwide, enables this convenience.
HSBC, one of the pilot partners for Taulia’s launch, expressed enthusiasm for the integrated virtual card payment solution. Arati Kurien, HSBC Global Head of Commercial Cards Product Management, stated, “Embedding HSBC’s financial services into the systems that our clients use day to day is a key focus for us.”
Taulia, founded in 2009, aims to help companies unlock the cash tied up in their payables, receivables, and inventory. With a network of over three million businesses, Taulia provides its clients with increased working capital, supports their suppliers with early payment, and helps build sustainable supply chains. The company processes over $500 billion annually for clients such as Airbus, AstraZeneca, and Nissan.
This move by Taulia to integrate a virtual payment card solution into ERP systems reflects a growing trend in supply chain financing. Fintech companies are increasingly exploring ways to embed supply chain financing tools into existing business solutions, as Taulia is doing with ERP solutions. In the future, we can expect to see fintechs expanding this approach to embed other financial services, such as insurance, directly into supply chain platforms.
Taulia’s acquisition by SAP in 2022 further underscores the company’s commitment to advancing supply chain finance. The undisclosed amount of the acquisition highlights the value and potential of Taulia’s innovative solutions. Cedric Bru, CEO of Taulia, leads the company in its mission to revolutionize supply chain financing.
As Taulia launches its virtual payment card solution in partnership with Mastercard, it is clear that the company is dedicated to providing its clients with cutting-edge tools to optimize their supply chain finance operations. With the integration of this solution into major ERP systems, Taulia is poised to enhance the efficiency and effectiveness of payment processes for businesses and their suppliers.
