Taulia and Mastercard Join Forces to Launch Cutting-Edge B2B Virtual Card Payment Solution
In a groundbreaking move, Taulia and Mastercard have come together in a strategic partnership aimed at transforming working capital management solutions for businesses. This collaboration brings forth the innovative «Taulia Virtual Cards» solution, poised to provide businesses with enhanced control over their working capital, enabling them to optimize cash flow and minimize payment uncertainties, according to Fintech Global News.
Taulia, a leader in financial technology solutions, and Mastercard, a global payment technology company, are set to revolutionize how businesses manage their finances with the introduction of Taulia Virtual Cards. This powerful tool will empower businesses to streamline their working capital management, facilitating greater financial stability and efficiency.
A significant aspect of this partnership is the inclusion of major banks such as Degussa Bank and HSBC, allowing Taulia customers to leverage their existing relationships with these financial institutions. This innovative «bring your own bank» feature will enable businesses to deploy virtual cards seamlessly through the Taulia platform, enhancing the advantages offered by their own banks while capitalizing on the efficiency of virtual card payments.
Notably, this collaboration extends Taulia’s suite of working capital solutions by integrating Mastercard’s virtual cards. This integration promises significant time and cost savings for corporations, delivering a user-friendly experience within their enterprise platforms. Their joint objective is to simplify payment-related tasks for corporations, offering seamless integration with major enterprise resource planning (ERP) platforms, including SAP S/4HANA.
Danielle Weinblatt, Chief Product Officer at Taulia, expressed her excitement about the partnership, stating, «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 of Global Partnerships and Segments at Mastercard, emphasized the importance of this collaboration, saying, «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.»
HSBC, one of the banking partners in this endeavor, is equally excited about the innovation this partnership brings. Arati Kurien, Global Head of Commercial Cards Product Management at 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 at Degussa Bank AG, added, «We are very excited to provide our customers with an SAP-integrated virtual credit card solution and are looking forward to a successful partnership with Taulia to grow our German procurement footprint.»
The collaboration between Taulia and Mastercard, supported by major banks like HSBC and Degussa Bank, marks a significant step forward in enhancing working capital management solutions for businesses. With Taulia Virtual Cards, businesses can expect improved cash flow management and a more efficient payment experience, ultimately leading to greater financial stability and operational efficiency. This partnership signifies a commitment to transforming the landscape of B2B payments and empowering businesses to thrive in an increasingly competitive global market.