SAP-backed Tereina launches payment service inside SAP's business software

Oct 6 (Reuters) - Tereina, ‌a payments ​company ​in which SAP owns a stake, on Tuesday launched technology ‌that lets businesses pay suppliers, employees and ⁠affiliates directly from their SAP software in traditional ‌currencies or stablecoins.

The launch ‌introduces a payments layer inside business software that companies already use to track their ​money. Until now, SAP had stopped short of payments and let customers ⁠connect their own providers, Tereina CEO Cedric Bru said, while ​declining to disclose the size of SAP's stake in the company.

• SAP ​customers can subscribe to ‌the new SAP Pay services under existing contracts

• Bru compares the ⁠offering to Apple Pay as a payment service native to the system it runs ⁠in

• Tereina was built with AI coding tools and ​the project ran for two and a half years, most of it in the past 18 months, ‌with a staff of a few dozen in San Francisco

• It ‌partners with other payment providers rather ⁠than competing with them, claiming ‌a 25% ​cut in payment costs

(Reporting by Leo Marchandon in Gdansk, editing by Milla ‌Nissi-Prussak)

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