SAP Partners with TransferMate for Cross-Border Payments

SAP has partnered with TransferMate to integrate the fintech's B2B payments infrastructure into SAP Multi-Bank Connectivity.

The move enables businesses using SAP Cloud ERP or SAP S/4HANA Cloud environments to execute cross-border payments without switching to external platforms.

TransferMate operates as a non-bank payments provider through this integration, giving SAP customers direct access to international payment capabilities within their existing enterprise software.

The partnership addresses growing demand among businesses for seamless embedded finance solutions that eliminate friction from cross-border transactions.

Embedding payments infrastructure

Non-bank payments providers have gained significant traction by offering alternatives to traditional correspondent banking networks.

These providers maintain regulatory licences across multiple jurisdictions whilst building local banking relationships to facilitate faster settlement times.

TransferMate recently partnered with Deutsche Bank to expand its local in-country collection capabilities across the ASPAC region, demonstrating the company's strategy of leveraging established banking infrastructure to scale its network.

The fintech maintains operations across more than 200 countries and processes payments in over 140 currencies.

Through the SAP Multi-Bank Connectivity integration, customers gain access to TransferMate's global payables, receivables and stored funds capabilities directly within their ERP environment.

Gary Conroy, CEO of TransferMate says: “We are proud to be the first non-bank payments provider with an integration to SAP Multi-Bank Connectivity. 

“TransferMate’s same-day and next-day payment delivery, combined with SAP Multi-Bank Connectivity’s automated updates of payment status and cash positions, helps deliver a new level of speed, efficiency and visibility for enterprise finance teams. 

“This integration helps streamline payment and reconciliation processes, providing real-time insight into cash flow and empowering organisations to make faster, more informed financial decisions.”

The integration negates the need for finance teams to navigate multiple systems when managing international supplier payments or receiving funds from overseas customers.

Market positioning among enterprise payment solutions

SAP reported strong Q3 results in 2025, with cloud revenue rising 22% to reach €5.29bn (US$6.11bn) as the company transitions from traditional software licensing to subscription-based services.

The German software giant competes in the enterprise applications market alongside providers like Salesforce and Oracle, with the sector expected to surpass US$600bn by 2028 driven by AI integration.

Payment infrastructure represents a critical component of this competition, as businesses increasingly demand financial services embedded directly into their operational software rather than requiring separate banking relationships.

Cross-border payments remain particularly complex due to fragmented regulatory requirements and legacy correspondent banking systems that can delay settlements for days or weeks.

Companies like Wise, Payoneer and Stripe have built substantial businesses by addressing these inefficiencies through local banking networks and API-first integration approaches.

TransferMate's infrastructure-as-a-service model positions it to serve enterprise customers through partnerships with software platforms rather than direct consumer relationships.

Regulatory framework and scalability

The partnership enables TransferMate to deliver what it describes as a scalable, fully integrated solution that supports digital transformation strategies.

Cross-border payment providers must navigate complex regulatory requirements across multiple jurisdictions whilst maintaining sufficient liquidity to execute same-day settlements.

TransferMate splits international transactions into local funding and payout legs, eliminating delays associated with traditional SWIFT transfers.

The company maintains licences across more than 90 jurisdictions and operates virtual accounts in over 30 currencies to facilitate these local settlements.

For SAP customers, this infrastructure translates to simplified treasury operations and reduced foreign exchange exposure when managing global supplier payments.

The integration also provides businesses with transparent pricing and complete visibility over transaction status from initiation through final reconciliation.

The partnership marks what TransferMate characterises as a significant milestone in its strategy to become the embedded B2B payments partner for enterprise software platforms.

As businesses continue digitising their accounts payable and receivable processes, demand for embedded payment infrastructure that eliminates system switching and manual reconciliation work is expected to increase across the enterprise software market.