J.P. Morgan Becomes a Coupa Pay Partner
Coupa Software has announced a strategic collaboration with J.P. Morgan. Coupa will commence partnering with J.P. Morgan’s Single-Use Accounts (SUA), virtual card, in a move designed to enable a fast, secure, and a convenient way for businesses to manage payments within their broader business spend management strategy.
Using Coupa Pay with J.P. Morgan’s SUA solution, a user requests a virtual card by submitting a purchase requisition through Coupa. Once approved, a unique SUA credit card number is generated for the authorised supplier and amount, and Coupa automatically reconciles the resulting charges and statements back to the purchase order. Virtual cards reduce finance workloads, creating a more efficient way of engaging with high volume, low-value, and one-off suppliers. Additionally, similar to a standard corporate credit card, businesses can pay suppliers upfront without affecting cash flow or tying up important capital.