SAP Pay adds USDC payments, with Circle Mint access required

Through a partnership with payments provider Tereina, Circle has integrated a USDC payment route into SAP Pay, enabling qualified businesses to utilize stablecoins directly within their current SAP workflows. According to Circle’s SAP Pay documentation, using this feature requires an institutional Circle Mint account and is subject to regional availability.

Announced on Oct. 7, the collaboration between Circle and Tereina—the payment firm behind SAP Pay—is now accessible to SAP users. The announcement specifies that USDC serves as the preferred stablecoin for eligible dollar-denominated workflows, while EURC is available as an option for euro-based transactions.

For corporate finance teams, this integration introduces a new settlement option inside the software they already rely on for business payment management. SAP introduced SAP Pay on Oct. 6 as an embedded service within SAP Cloud ERP designed to execute and reconcile transactions when invoices become due.

Circle highlights several practical applications for USDC, such as cross-border supplier payments, internal transfers between company entities, and the settlement of accounts payable and receivable. The company notes that this transaction route operates alongside existing banking relationships, approval workflows, controls, and reporting systems. To facilitate the minting, redemption, and management of USDC, Circle Mint integrates with the SAP architecture via an API.

Institutional access and regional limits

SAP customers must also satisfy Circle’s specific account prerequisites. Because Mint is restricted to institutional clients, individual applicants cannot qualify. Circle’s mandatory onboarding procedures involve comprehensive background checks, identity verification, know-your-customer assessments, and sanctions screening. Circle states that this processing duration can span from one day to a week or more.

Publicly available regional guidelines contain some discrepancies. SAP’s Connect guide indicates that SAP Pay is generally accessible in the United States and the United Kingdom. However, separate product-page terms restrict transaction processing strictly to customers or affiliates domiciled in the US or the European Union, unless alternative documentation specifies otherwise. It remains unclear how the UK launch aligns with those domicile guidelines, and Circle’s separate regional account policies continue to apply independently.

Circle’s general country guidance for Mint differentiates between fiat connectivity and wallet-only support. While these classifications govern overall Mint operations, the complete country-by-country coverage for this integration has not been fully specified.

Traditional banking access remains vital when converting funds between fiat dollars and USDC. Circle’s standard wire instructions mandate an account held in the institution’s official name capable of transmitting wire transfers directly to Circle’s US bank account. Additionally, redemptions are not supported for accounts that require an intermediary bank to receive dollar wires.

Circle emphasizes the availability of continuous, near-instant USDC settlement, which can potentially enhance working capital efficiency and reconciliation processes. Nevertheless, neither the announcement nor the SAP Pay portal provides specific transaction volumes or calculated customer savings resulting from the integration.

Although SAP’s documentation references an unnamed distributor utilizing SAP Pay, it does not confirm whether that entity employs Circle’s stablecoins. That particular example demonstrates general usage of the payment utility without quantifying the adoption rate of the new USDC pathway.

Moving forward, Tereina and Circle intend to conduct collaborative customer proof-of-value initiatives over the next few months to gather adoption insights as rollouts progress. Both firms also plan to train corporate treasury and payment professionals while collaborating closely with ecosystem partners.

Frequently Asked Questions

• What is SAP Pay? SAP Pay is a service embedded in SAP Cloud ERP that executes and reconciles payments when invoices are due.
• What stablecoins are supported in SAP Pay? USDC serves as the preferred stablecoin for eligible dollar-denominated workflows, while EURC is available for euro activity.
• Who is eligible to use the Circle USDC payment route? Access requires an institutional Circle Mint account, regional availability, and compliance with onboarding requirements like background checks and KYC verification. Individual applicants are excluded.
• Do Tereina and Circle plan future evaluations? Yes, the companies plan joint customer proof-of-value programs, training for treasury specialists, and ecosystem collaboration.