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Coupa Set to Simplify B2B Payments Using Stripe
New Coupa Pay capabilities will enable suppliers to use Stripe accounts for virtual card payment and reconciliation automation
LAS VEGAS – June 26, 2019 – Coupa Software (NASDAQ: COUP), a leader in Business Spend Management (BSM), today announced that its Coupa Pay offering will integrate with Stripe, the online payments platform. This will make virtual card payments simpler and faster for businesses that use the Coupa BSM Platform.
“Coupa is transforming B2B payments by removing complexity and weaving payments throughout business spend processes,” said Ravi Thakur, senior vice president of business acceleration at Coupa. “We are excited to further simplify the supplier experience by connecting Coupa Pay to Stripe. This will reduce suppliers’ labor-intensive reconciliation of virtual card payments, increase their operating efficiencies, and help them get paid faster.”
Through Coupa’s integration with Stripe, suppliers will soon be able to register their Stripe account with Coupa Pay as their preferred virtual card acceptance option. Doing so helps enable seamless processing of the payment. When a virtual card payment is sent by Coupa to a supplier registered with Stripe, the payment is made directly into the supplier’s bank account with no manual intervention. By eliminating the reconciliation work, the new Coupa Pay solution will reduce the time and effort required by suppliers to accept virtual card payments.
“Coupa became a leader in Business Spend Management through a user-focused development model that simplified Source to Pay. It appears they are following this same formula as they go after the B2B payments space,” said Kevin Permenter, research manager, Enterprise Applications at IDC. “By taking advantage of Stripe’s widely adopted payments infrastructure, Coupa Pay should be able to increase efficiency and reduce efforts for suppliers.”
About Coupa Software
Coupa Software is a leading provider of BSM solutions. We offer a comprehensive, cloud-based BSM platform that has connected hundreds of organizations with more than five million suppliers globally. Our platform provides greater visibility into and control over how companies spend money. Using our platform, businesses are able to achieve real, measurable value and savings that drive their profitability. Learn more at www.coupa.com. Read more on the Coupa Blog or follow @Coupa on Twitter.