American Express has entered into a partnership with SAP Ariba to introduce new payment and financing options for buyers and suppliers on Ariba Network.
Under the arrangement, American Express will enable its virtual card capabilities within the SAP Ariba process and platform using Ariba Network APIs.
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That will facilitate commerce, payments, and reconciliation between businesses on a single platform, the companies said.
The move will help improve the operational efficiencies as customers will not require a standalone account for payment transactions.
Slated to roll out later this year, the integration will enable businesses to generate virtual card payments using their existing American Express Corporate Cards.
American Express executive vice president for global commercial services E-Bai Koo said: “With over half of American Express’ largest global customers already using SAP Ariba to manage their expenses, this partnership has the opportunity to provide significant value for our joint customers.”
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By GlobalDataThe integration is expected to improve businesses’ operational efficiencies, enhance payment speed and reduce risk of fraud, among other things.
SAP Ariba SVP of business network and ecosystem Sean Thompson said: “Partnering with American Express as a new network extension partner – integrating virtual payment capabilities within Ariba Network – we’re able to deliver a true end-to-end procure-to-pay process to customers that changes the game in the corporate payments space.”
