B2B Payments

Coupa Pay Launches, Taps Barclaycard For Virtual Cards

Coupa Pay Taps Barclaycard for Spend Management

Expense management solutions provider Coupa is rolling out a suite of B2B payment solutions collectively known as Coupa Pay, and the firm is working with Barclaycard to boost adoption of electronic B2B payments.

Two press releases issued Wednesday (Nov. 7) said Coupa Pay is making its market debut with a range of both payment and business financing solutions. The suite includes Coupa Virtual Cards for Purchase Order, a solution that enables businesses to automatically generate one-time-use virtual cards for supplier payments that reconcile the transaction with purchase orders.

“Coupa Pay is a natural step in our journey to help companies spend smarter,” said Coupa Senior Vice President of Business Acceleration Ravi Thakur in a statement. “It inherently offers a twofold advantage. Our customers get value by extending payments as part of their overall business spend management strategy, and their suppliers get a more efficient and inclusive experience throughout the process.”

In a separate press release, Barclaycard announced a partnership with Coupa as its first Coupa Pay collaborator. That deal sees Barclaycard issuing the virtual cards used in the Coupa Pay solution when businesses submit their purchase orders on the platform. A single-use Barclaycard credit card number is created to pay the supplier, which is followed by automatic reconciliation.

In another statement, Barclaycard Managing Director of Client Coverage David Price said the solution “gives users the ability to seamlessly generate a virtual card at the point of PO, which marks an important step in our journey to offer businesses even greater levels of efficiency, control and connectivity.”

Coupa also announced the launch of Coupa Supply Chain Finance, a tool that provides suppliers with access to third-party financing to manage working capital while they wait for their invoices to be paid, allowing them to extend their payment terms with corporate buyers.

The trade finance offering follows the rollout of Coupa Accelerate, an early payment discount tool for corporate buyers who want to secure discounts on their invoices by paying their bills before their due date.



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.