This collaboration will see the companies issue Visa-enabled virtual cards, embedded across a variety of solutions available with the SAP business suite, Taulia announced in a Thursday (March 27) news release.
“Through the partnership, Lloyds will extend credit to customers who have purchased the Taulia Virtual Cards solution, allowing companies to issue virtual cards to suppliers worldwide in a seamless B2B payment process,” the release said. “Combining Taulia’s scalable technology with Lloyds’ reach, the partnership offers an innovative and fully embedded payment solution that caters to UK customer needs.”
As the release notes, embedded finance technology integrates financial services into non-financial platforms and applications to help businesses enhance operations and improve on their customer experience.
In this case, Taulia uses Visa’s APIs to integrate Visa virtual payment credentials, acceptance solutions and supplier enablement services into the end-user’s business and enterprise resource planning (ERP) applications.
“Embedding virtual cards directly within the ERP landscape and having Lloyds as an issuing partner is a game-changer for corporate payments,” Taulia Chief Product Officer Danielle Weinblatt said in the announcement. “This collaboration redefines how businesses manage spend, bringing greater control, automation, and working capital optimization directly into their existing workflows.”
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As PYMNTS wrote recently, virtual cards are enjoying an increasingly important place in the corporate payments world, particularly at a time when misused or stolen cards account for a significant percentage of business fraud cases.
Virtual cards, unlike their traditional counterparts, are generated digitally and meant for one-time or recurring use with customizable spending limits.
“Virtual card numbers offer a modernized solution with flexibility in transaction amounts, merchant types and frequencies,” Marcos Gelfi, vice president and global head of commercial fraud/dispute products and cardholder solutions at Discover® Global Network, said in an interview with PYMNTS last fall.
“By leveraging data and defining clear corporate policies, businesses can achieve greater efficiencies and robust fraud prevention,” Gelfi added. “The data that you capture is pretty important and can help you negotiate better with suppliers, and help you manage your budget better.”
Recent research by Visa and PYMNTS Intelligence has shown that the increased popularity of virtual cards as a working capital solution, with use of these cards increasing by close to a third, year over year.
