Discover and JAGGAER Launch B2B Payments Solution
01 October 2019 - 10:00PM
Business Wire
Discover, a leading direct bank and payments company, and
JAGGAER unveiled a new procure-to-pay solution leveraging spend
management capabilities from the JAGGAER ONE platform and the
trusted global infrastructure and settlement capabilities from the
Discover Global Network.
The Discover Global Network will support payments on JAGGAER ONE
Platform’s vast network of more than 2000 customers and 4 million
suppliers in 70 countries. Discover will work with JAGGAER to bring
virtual card numbers as a solution in early 2020 followed by other
payment method options later that year.
“JAGGAER and Discover have a long history of listening to
customers and are entering into a synergistic relationship to
deliver the full value of virtual cards, with features that enable
reconciliation. We know that our shared customer base will embrace
our drive to take payment processing to the next level,” said Zia
Zahiri, Chief Technology Officer at JAGGAER.
The JAGGAER ONE Platform and Discover can help provide a more
reliable and cost-effective way for buyers to create purchase
orders, receive invoices and send payments, while sellers receive
more-detailed remittance information. The new payment capabilities
will allow for the ability to process payments in one system rather
than having to manage multiple procurement systems. By delivering
enhanced data, reducing the amount of paper transactions accounts
payable departments may transition from a cost center to a profit
center.
“Continuing to build our commercial payments portfolio through a
relationship with JAGGAER showcases our commitment to bring the
best payments solutions to all transaction types,” said William
Dulin, Vice President of Partnership Business Development at
Discover.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and
payment services company with one of the most recognized brands in
U.S. financial services. Since its inception in 1986, the company
has become one of the largest card issuers in the United States.
The company issues the Discover card, America's cash rewards
pioneer, and offers private student loans, personal loans, home
equity loans, checking and savings accounts and certificates of
deposit through its direct banking business. It operates the
Discover Global Network comprised of Discover Network, with
millions of merchant and cash access locations; PULSE, one of the
nation's leading ATM/debit networks; and Diners Club International,
a global payments network with acceptance around the world. For
more information, visit www.discover.com/company.
About JAGGAER
JAGGAER is the world’s largest independent spend management
company, with over 2000 customers connected to a network of 4
million suppliers in 70 countries, served by offices located in the
Americas, APAC, Asia and EMEA. JAGGAER offers complete SaaS-based
Source to Pay solutions with advanced Spend Analytics, Sourcing,
Supplier Management, Contract Lifecycle Management, Savings
Tracking, and intelligent workflow capabilities all on a single
platform, JAGGAER ONE. JAGGAER has pioneered spend solutions for
over two decades and continues to lead the innovation curve by
listening to customers and stakeholders in all industry sectors,
public services and academia. Additionally, JAGGAER holds 37
patents–more than any other spend management company.
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version on businesswire.com: https://www.businesswire.com/news/home/20191001005186/en/
Steve Lundin JAGGAER Stevenjlundin@bigfrontier.com
312-602-2434
Sarah Grage Silberman Discover sarahgragesilberman@discover.com
+1-224-405-6029 @Discover_News
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