SAP-backed Tereina launches SAP Pay with stablecoin support

Tereina, a payments company in which SAP owns a stake, launched technology on October 6 that lets businesses pay suppliers, employees and affiliates directly from their SAP software in traditional currencies or stablecoins, Reuters reported. Tereina chief executive Cedric Bru declined to disclose the size of SAP’s stake.

Until now SAP had stopped short of payments and let customers connect their own providers, Bru told Reuters. SAP customers can subscribe to the new SAP Pay services under their existing contracts, and Bru compared the offering to Apple Pay as a payment service native to the system it runs in. Tereina partners with other payment providers rather than competing with them, and says it can cut payment costs by 25 percent, according to the report.

Tereina was built with AI coding tools, Reuters reported. 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.

On October 7, Circle and Tereina announced a partnership to integrate USDC and EURC into Tereina’s platform, starting with SAP Cloud ERP, according to a Business Wire release. Companies with a Circle Mint account can use USDC for dollar payments and EURC for euro payments. Over the coming months the two companies plan joint proof-of-value programs with customers and training for treasury and payments specialists.