Citibank and SAP to Incorporate On-Demand Payment Services Within mySAP.comTM Solutions

Citigroup and SAP AG announced an agreement to incorporate Citibank payment services into the mySAP.com Business-to-Business Procurement solution and SAPMarkets marketplaces. The integration of Citibank payment services into mySAP.com will bring to market a fully integrated end-to-end e-commerce solution that will enable companies to streamline financial settlement processes by connecting corporate buyers, suppliers and banks using XML payment standards. Citibank payment services will accommodate same or cross-currency transactions and can provide payment settlement for suppliers dealing with unknown buyers. The enhanced e-commerce solution will provide further process efficiencies for companies planning to conduct e-business using mySAP.com and non-mySAP.com systems through automatic updates to financial postings.

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