The Adflex STP service and virtual card reader technology enable virtual card numbers to be read automatically from within emails, allowing transactions to be processed without manual entry, the companies said in a Monday (June 16) press release emailed to PYMNTS.
This collaboration will simplify supplier acceptance and process integration, enabling suppliers to scale virtual card programs effectively, Bill Wardwell, senior vice president and general manager, Coupa Pay and Treasury, said in the release.
“We’re seeing a growing number of customers turn to virtual cards to pay suppliers — not just for convenience, but to unlock real strategic value: stronger cash flow, enhanced security, streamlined reconciliation and meaningful rebate revenue,” Wardwell said.
This new service is exclusively available through Coupa and Adflex partner Barclaycard Payments in the Europe, Middle East and Africa (EMEA) region, according to the release.
Adflex also offers its automated virtual card payments service to all card issuers and their corporate clients, per the release.
“Adflex STP levels the playing field of digital B2B payments by delivering the benefits of prompt, secure and pain-free transactions to both buyer and supplier,” Andy Downman, commercial director at Adflex, said in the release.
In an age where convenience is paramount, businesses must focus on using technology to enhance both user experience and security, Wardwell told PYMNTS in an interview posted in December.
“We need open dialogues between stakeholders — regulators, banks, security firms and payment platforms — to foster a trustworthy ecosystem,” Wardwell said.
Coupa announced its partnership with Barclaycard in 2018, saying the collaboration would enable its users to seamlessly issue virtual cards.
In the Monday press release, Wardwell said virtual cards deliver many benefits, and the new collaboration with Adflex will make it easier for suppliers to scale this solution.
“Virtual cards have the dual benefit of extending days payable outstanding (DPO), which maximizes working capital, while minimizing the supplier’s days sales outstanding (DSO) and removing the cost of cash collection — a ‘win-win’ for both parties,” Wardwell said.
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