@UK (LON:ATUK) is to extend its partnership with debit & credit card issuer Visa to launch cloudBuy, Asia Pacific’s first business-to-business (B2B) global e-marketplace solution.
The UK-based e-commerce solutions provider is hooking up with Visa to offer cloud-based real-time integrated services in the Asia Pacific region, thereby enabling Visa holders a convenient way to make purchases online in a safe environment.
"Many organisations in Asia Pacific are looking at ways to be more efficient by automating current procure-to-pay processes. This partnership with @UK PLC is timely, as we bring cloudBuy to the region, offering organisations a solution that addresses their needs," said Olivia Leong, regional head of Enterprise & Government Payment Solutions, Commercial Products, Visa, Asia Pacific, Central Europe, Middle East and Africa.
cloudBuy claims to be the first B2B procurement solution with complete pricing accuracy, and it will provide insights into spending patterns, including cover price variance, benchmarking, spend analysis and supplier rationalisation.
"This multi-faceted partnership with Visa is an extension of our collaboration in the UK since 1999,” said Lyn Duncan, chief executive officer of @UK.
Duncan said the new deal would extend the reach of the company’s e-marketplace solution.
“We will be able to resolve the security, efficiency and pricing issues that are prevalent in legacy systems, hence ensuring that we remain steadfastly committed to helping organisations innovate purchasing processes and achieving their strategic business goals," Duncan said.
@UK has been a stock market star in the second half of this year, rising 463% over the last three months, with the speed of the ascent picking up after an upbeat trading update in August.