This innovative solution, known as Taulia Virtual Cards, will offer businesses enhanced working capital management advantages, empowering them to optimise cash flow and reduce payment uncertainties.
The partnership welcomes major banks like Degussa Bank and HSBC to participate, allowing Taulia customers to leverage their existing issuer relationships. This “bring your own bank” feature facilitates the deployment of virtual cards through Taulia, enriching the benefits offered by their own banks while embracing the efficiency of virtual card payments.
Notably, this collaboration also expands Taulia’s working capital solutions by utilising Mastercard’s virtual cards, delivering substantial time and cost savings to corporates seeking a more user-friendly experience within their enterprise platforms. Together, they aim to streamline payment-related tasks for corporates, providing a seamless integration across major enterprise resource planning (ERP) platforms, including SAP S/4HANA.
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 prioritises 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.”
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