As part of the agreement, Taulia Virtual Cards—which interfaces with SAP enterprise resource planning systems and business applications for faster payments for buyers and suppliers—will use Visa's digital payments technology.

By allowing virtual payment credentials to function natively across SAP business apps, the partners claim to streamline payments throughout the business ecosystem. Visa's APIs will allow SAP business applications to natively integrate acceptance and enablement solutions, as well as virtual payment credentials.

According to Visa, the ability to automate supplier payments would help CFOs, procurement, and accounts payable teams increase cash flow and visibility while reducing friction in B2B transactions.

"We create synergies in working capital management and the enablement of a world-class ERP provider by partnering with SAP/Taulia," states Alan Koenigsberg, SVP, worldwide head, big, medium market sectors and working capital solutions, Visa. We think we are automating payments in a way that will provide suppliers and purchasers with the greatest possible experience while eliminating time-consuming procedures that divert attention from the most important work that promotes growth.