Invoice payments via virtual card are also on the way, and will be incorporated into the other banking partnerships. The Paypal integration is coming "soon", though an exact timeframe was not yet provided. Citi payments is available now for virtual cards on purchase orders. More specifics: Coupa announced the general availability of invoice payments. A fresh round of innovations for Coupa Pay.Which brings us to the latest Coupa Pay announcements: What's happening is these infrastructure companies are starting to come up, and we can now start to leverage them in ways that haven't been available in the past. TransferMate, who I mentioned earlier today - they've been working over the past decade to get the banking licenses they needed to get to where they are today. There's a firm that we're using - a technology company called Conferma, that helps us with the virtualization of the cards. They're handling things in a very specific way. Some of the fintechs like PayPal have been around for a bit. But for any company that's operating globally, you're going to have multiple bank accounts. The challenge is the bank will do it for their bank. The banks have been trying to do it, and they have been doing it. I think what you're asking here is, "Why are people getting payments wrong?" The only people who have tried it have been the banks. Before I get to those, why did Coupa double down on payments? And why have e-payments turned out to be a difficult terrain for vendors? Thakur responded: There are specifics in terms of which new payment features are available when. We started with early pay discounts, moved on to virtual card for purchase orders, and what announced yesterday is general availability of invoice payments. We started the journey with Coupa Pay about 18 months ago. On the final day of Coupa Pay, I put that question directly to Ravi Thakur, Senior Vice President, Business Acceleration at Coupa Software (pictured right). Why would Coupa move into a market like e-payments, which has roughed up many companies already? At Coupa Inspire 2019, I asked customers for their take on Coupa's moves with Community Intelligence and Coupa Pay, some of which you can see in World Vision Canada on the art of modernizing procurement - and their views on Coupa Pay.īut I left on something of a cliffhanger:
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