Visa has announced its partnership with SAP in order to streamline and simplify B2B payments for businesses and enterprises across Asia Pacific. Following this collaboration, payment methods will be embedded into the SAP ecosystem through the SAP Business Technology Platform (SAP BTP).

Customers will be able to access and make B2B payments in a simple and secure manner with their Visa corporate cards. The companies aim to focus on embedded finance in the B2B market in order to integrate products and services that will improve the overall financial journey for business operations. Visa will also prioritise its development strategy in the B2B space, by offering improved money movement flows between individuals, businesses, and governments, which includes account receivable and payout flows, as well as corporate payments with card-based services or cross-border payments and transactions.

The embedded finance service will be initially rolled out to SAP clients in India, Japan, Australia, Malaysia, Thailand, Singapore, and Vietnam, with plans to be made available in other markets across the region in the future. Furthermore, the partnership will focus on bridging working capital gaps in the supply chain. Visa is set to deliver its offerings and capabilities through the SAP BTP platform in order to route commercial payments to all customers and suppliers, whether they accept card payments or not.

Visa’s partnerships and product launches At the end of June 2023, the company collaborated with Pay.UK, Synthetics Solutions, and Featurespace in order to fight fraud in UK payments by using data analysis and predictive intelligence. The initiative was in the pilot phase, and it aimed to establish a secure and efficient overlay service for UK banks, financial institutions, and building societies. Moreover, it also focused on analysing money flows, detecting fraudulent activities, and utilising predictive intelligence to prevent crimes before they occur.

Earlier in the same month, Visa signed a definitive agreement to acquire Pismo, a cloud-native platform, for USD 1 billion in cash. After the acquisition, Visa was enabled to deliver core banking and issuer processing offerings to clients via cloud-based APIs for credit, debit, prepaid, and commercial cards. Pismo’s infrastructure was set to allow Visa to facilitate and link financial institution customers to multiple developing payments rails like Pix in Brazil.

Worldpay from FIS announced its partnership with Visa and HSNC in the same month, in order to enable FIS UK merchants to incorporate Visa Instalments at the checkout. The Visa Instalments payment option was aimed to allow Visa card issuers to grant their eligible cardholders adjustable and efficient instalment payment arrangements at the trader’s checkout. Visa collaborated with Austria-based fintech Vipaso (Vienna Payment Solutions) in June as well, in order to launch a new application called `ViennaPay`.

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