Fiserv partners with SAP for B2B payments
Fiserv, the US-based payments company, has partnered with SAP, a German-based software company, to integrate its solutions to help companies improve their digital B2B payments and working capital.
The companies plan to integrate SnapPay by Fiserv and the SAP digital payments add-on, both of which are cloud-based applications. SnapPay was built to serve the accounts receivable (AR) and accounts payable (AP) needs of large and mid-sized companies.
“The real-time integration of SnapPay with the SAP solution is enhancing our process efficiency, reducing our overall cost of doing business, and simplifying payment card industry compliance” said Daoud Ali, Executive Director of IT at Brewster Home Fashions.
SAP’s digital payments add-on is designed to help enable credit cards and other modes of digital payments that are subject to Payment Card Industry Data Security Standard (PCI DSS). Firms already running any variant of SAP order or sale-to-cash processes (B2B, B2C, point-of-sale, web) can integrate to certified payment service solutions, including SnapPay, with flexible access to multiple digital payment methods.
“The SnapPay integration with SAP digital payments add-on helps meet the unique needs of B2B and B2C customers” said Dr Oliver Kroneisen, Vice President and Head of Financial Operations Development at SAP.