Coupa and Goldman Partner on B2B Payments

Coupa and Goldman Sachs Transaction Banking (TxB) have partnered to streamline B2B payments.

With Coupa’s business spend management platform and Goldman Sachs TxB’s cloud-based banking services, the global collaboration will simplify domestic, cross-border and foreign exchange (FX) payments to 167 countries and 124 currencies, the companies said in a Thursday (April 13) press release.

“We are collaborating with Coupa to further innovate in the world of payments through smarter and seamless solutions that provide a consumer-like user experience to our customers,” Goldman Sachs Head of Product, Transaction Banking Brinda Bhattacharjee said in the release. “This collaboration allows us to unlock additional value for global businesses looking to modernize their payments processes and increase visibility for both buyers and suppliers.”

PYMNTS research has found that executives across industries are scrambling for solutions that help them get paid, as well as pay their vendors faster and more seamlessly, during this time of high inflation, rising interest rates and the threat of further economic headwinds around the corner.

Nearly 1 in 3 executives said they are not fully satisfied with their organizations’ current bill payments ecosystem, according to “The One-Stop Bill Pay Playbook: Executive Views on Third-Party Bill Payment Solutions,” a PYMNTS and Mastercard collaboration.

The report also found that nearly two in three executives expect to integrate B2B payment innovations into their operations this year.

With the new global partnership of Coupa and Goldman Sachs TxB, businesses can access fast, application programming interface (API)-led integration, quick and convenient payment capabilities, and enhanced cross-border payments that include tracking by SWIFT GPI, according to the press release.

“Our collaboration exemplifies Coupa’s focus on innovation and driving success for our customers,” Coupa Executive Vice President of Products Raja Hammoud said in the release. “Enhancing the Coupa platform with Goldman Sachs TxB capabilities will further streamline and centralize payments for customers and their suppliers around the globe.”

Goldman Sachs TxB was launched in 2020 and is a digital-first business aimed at helping clients build the future of their treasury. It uses an API-first way to automate corporate treasury or embed business banking products into existing experiences.

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