Coupa Software announced a strategic collaboration with HSBC under its Coupa Pay offering. Commencing with virtual cards, the collaboration will provide European companies with access to a fast, seamless, and secure way to manage payments as part of their comprehensive Business Spend Management strategy. The demand for new and safe B2B payment methods continues to grow as more companies adopt remote work policies and continue to fight fraudulent activity on traditional payment rails.

Virtual cards help businesses get full visibility and control into pre-approved spend and streamline reconciliation, helping finance and procurement teams be more efficient and productive. Using Coupa Pay with HSBC, companies can reduce friction and improve efficiency in accounts payable processes. They can generate insights on company-wide spend to make better decisions, manage risk more effectively, and optimize liquidity and working capital in a cost-effective way.

Virtual cards also help to enhance corporate responsibility and supply chain resilience, by supporting smaller suppliers, safely sourcing from new vendors, and establishing operations in new markets.