Barclaycard and SAP UK extend B2B payment partnership

Barclaycard Commercial Payments has announced a strategic partnership with SAP UK, which will see its B2B payment product Precisionpay integrated into the SAP Ariba business network.

The companies said the integration, which will become available later in 2019, will bring procurement and payment together in one place.

Through Precisionpay Bank Transfer, buyers will have an opportunity to pay suppliers much earlier in the procurement cycle, which SAP and Barclaycard said can improve supplier relationships, and allow firms to take advantage of prompt payment discounts.

From the buyer side, the move will give access to flexible working capital; instead of having to pay the supplier directly. For instance, Barclaycard could fund the payment, and then the buyer would typically have up to 56 days to pay the balance.

SAP Ariba customers who use Precisionpay, meanwhile, will benefit from access to data-led procurement insights, according to the statement.

Jens Amail, managing director for UK & Ireland at SAP, said “Barclaycard is a long-term strategic partner for SAP and we’re taking this partnership to the next level by collectively redefining the corporate payments market with a highly innovative platform.

“The introduction of early settlement flexibility will truly revolutionise the industry and bring so much more value to Barclaycard customers.”

Marc Pettican, managing director of Barclaycard Commercial Payments, added: “In global procurement, payment has always been the part of the process that has created the most friction, so we’re really excited to be partnering with SAP to make B2B payments as simple and seamless as possible.”