CA-TAULIA
Taulia, a leading provider of working capital management solutions, has partnered with Mastercard to launch Taulia Virtual Cards. The new solution provides businesses with additional working capital management advantages, including the ability to maximize cash flow and minimize payment uncertainty. Following Taulia Virtual Cards’ seamless integration across SAP ERP solutions, including SAP S/4HANA and other major enterprise resource planning (ERP) platforms, corporates can streamline previously cumbersome payment-related tasks more effectively and affordably.
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Initially, two major banks - Degussa Bank and HSBC - are set to participate. Taulia customers will benefit through their existing issuer relationships, meaning customers can deploy virtual cards and extend the current benefits offered by their own banks through Taulia, while also enjoying the speed, controls, and efficiency of virtual card payments. This “bring your own bank” capability is made possible by Taulia’s integration with Mastercard’s innovative virtual card platform, which is connected with more than 80 banks globally.
This partnership will allow Taulia to expand its working capital solutions for businesses by leveraging virtual cards generated through Mastercard upon request, providing significant time and cost savings to corporates seeking more consumer-grade user experiences in their enterprise platforms.
Through the tightly integrated virtual card experience, businesses benefit from greater spend control and more options to pay suppliers efficiently. On the other end, suppliers gain improved cash flow and enhanced visibility, alleviating friction across B2B transactions.
Danielle Weinblatt, Chief Product Officer, Taulia, commented: “We are delighted to be partnering with Mastercard, doubling down on our commitment to transform the world of global trade and commerce by bringing our customers a fully embedded working capital management solution that prioritizes the customer experience.”
Rebecca Meeker, Senior Vice President, Global Partnerships and Segments, Mastercard, commented: “Fragmented B2B payment practices have held businesses back for too long. Virtual cards accelerate automation and support cash flow through increased access to working capital, which is why Mastercard is thrilled to work with Taulia and its banking partners to extend the benefits of virtual cards while prioritizing customer experience.”
Arati Kurien, Global Head of Commercial Cards Product Management, HSBC, commented: “We’re pleased to be embracing innovation through our partnerships with Taulia and Mastercard, which will now provide our clients with an integrated virtual card payment solution within the Taulia platform. Embedding HSBC’s financial services into the systems that our clients use day to day is a key focus for us.”
Matthias Weiß, Board Member, Degussa Bank AG, commented: “We are very excited to provide our customers an SAP-integrated virtual credit card solution and are looking forward to a successful partnership with Taulia to grow our German procurement footprint.”
ENDS
About Taulia
Taulia is a fintech provider of working capital management solutions headquartered in San Francisco, California. Taulia helps companies access value tied up in their payables, receivables, and inventory. Taulia's platform and network of more than 3 million businesses enables customers to execute their working capital strategies, support their suppliers with early payment, and contribute to building sustainable supply chains. Taulia processes more than $500 billion each year and is trusted by the world’s largest companies, including Airbus, AstraZeneca, and Nissan. In March 2022, Taulia became part of SAP. For more information, please visit www.taulia.com.
About Degussa Bank
Degussa Bank AG is a retail bank based in Frankfurt/Main, Germany. It offers a wide range of financial services to employees of partner companies (B2C) as well as to corporates (B2B). Degussa Bank is a leading B2B Commercial card issuer in Germany and Austria. Degussa Bank card solution rely on customer centric solutions with a high standard of data management with several integration opportunities to T&E, Accounting- and ERP-Systems. Degussa Bank has over 20 years’ experience in card issuing and over 10 years especially with virtual cards.
About HSBC
HSBC Holdings plc, is a public limited company incorporated in England. Headquartered in London, HSBC is listed on the London, Hong Kong, New York, and Bermuda stock exchanges. The entities that form the HSBC Group provide a comprehensive range of financial services. Our international network comprises some 3,500+ offices in 62 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East, and Africa. We serve over 39 million customers through three global businesses: Wealth and Personal Banking (‘WPB'), Commercial Banking ('CMB'), and Global Banking and Markets ('GBM'). HSBC offers a wide range of services to all sizes of business, from multinationals to small and medium-sized enterprises. Services include traditional corporate banking facilities, such as bank accounts, money transmission services, overdrafts, short and medium-term loans, treasury and foreign exchange, trade services, and global cash management, including corporate cards.
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