AribaPay launches in Canada
Phil Beck, AribaPay
SAP Ariba and Discover Financial Services have rolled out their B2B payments service, AribaPay, in Canada.
Last month AribaPay was launched in the US (also with the help of Discover). And earlier this year, SAP partnered with First Data for a rollout across Europe and Latin America.
SAP Ariba says Canadian businesses and consumers pass about four million cheques per day. For buyers, that means “lots of paper and inefficiencies that cost their companies billions each year”. For sellers, it means “little visibility into when they will actually be paid, and what they are being paid for making it difficult to effectively manage cash and reconcile payments”.
Phil Beck, general manager, AribaPay, says that by automating billing and settlement and digitising the “pay” in procure-to-pay, AribaPay brings the “same simplicity” to B2B payments.
Diane Offereins, president of payment services at Discover, says its infrastructure will be used to offer a layer of “flexibility and security” to buyers and sellers who need settlement and reconciliation for business payments.
SAP says AribaPay has been used to process more than $40 billion in payments since its launch in July 2014.
The solution is on display this week at SAP Ariba Live, a business commerce event that runs 14-16 March in Las Vegas.
