Businesses constantly seek efficient payment solutions to streamline financial operations and reduce risks. Virtual cards have become a widely adopted tool for secure transactions and better financial control. To expand this capability, Lloyds and Taulia, a subsidiary of SAP, have introduced a virtual card program using Visa-enabled technology. This initiative aims to embed digital payment options within SAP’s business suite, allowing companies to manage supplier payments more securely and efficiently. The collaboration integrates Lloyds’ financial services with Taulia’s digital platform to improve accessibility and usability for businesses.
Lloyds and Taulia have previously explored corporate financial solutions, but this new partnership marks a step toward broader adoption of embedded virtual payments. Earlier, businesses primarily relied on traditional corporate credit cards, which posed challenges in security and spending control. The current initiative builds upon past developments, leveraging Visa’s API for seamless integration with enterprise systems. The demand for secure and automated payment tools has been growing, and financial institutions have been expanding virtual card offerings to address these needs.
How does the partnership enhance payment processes?
Lloyds will provide credit to companies that purchase the Taulia Virtual Cards solution, enabling seamless transactions with global suppliers. The initiative integrates Visa’s virtual payment credentials and supplier enablement services within enterprise resource planning (ERP) systems. By embedding virtual cards into business workflows, companies gain greater control over spending while reducing reliance on manual payment methods. This integration is expected to simplify payment reconciliation and improve efficiency.
What are the advantages of virtual cards for businesses?
Virtual cards offer several advantages over traditional corporate credit cards, including customizable spending limits, enhanced security, and automated payment processing. Companies can issue these digital cards for specific transactions or recurring purchases, reducing the risk of fraud and unauthorized spending. According to Visa and PYMNTS Intelligence research, the use of virtual cards as a working capital solution has grown significantly, with adoption increasing by almost a third year over year. Businesses are turning to virtual cards to optimize cash flow and improve financial oversight.
The growing significance of embedded finance plays a critical role in this development. By incorporating financial services directly into non-financial platforms, businesses can enhance both operational efficiency and user experience. Virtual cards contribute to better financial management by providing real-time transaction data and reducing administrative burdens. With the integration of Visa’s APIs, Taulia ensures that businesses can seamlessly implement virtual payment solutions within their existing systems.
Industry experts highlight the security benefits associated with virtual cards. The ability to define transaction limits and restrict merchant types helps companies minimize financial risks.
“By leveraging data and defining clear corporate policies, businesses can achieve greater efficiencies and robust fraud prevention,”
said Marcos Gelfi, vice president and global head of commercial fraud/dispute products and cardholder solutions at Discover® Global Network. He also noted that transaction data could help businesses negotiate better with suppliers and manage budgets more effectively.
With financial fraud cases on the rise, companies are seeking more secure payment solutions. Virtual cards address these concerns by offering single-use and recurring payment options with built-in fraud prevention features. As adoption continues to grow, businesses are likely to further integrate virtual card technology into their corporate finance strategies. This development reflects a broader trend where companies prioritize digital payment tools to improve efficiency, security, and financial control.
