Cardlay to integrate with SAP Concur for virtual card issuance

By Joy Dumasia

SAP Concur has partnered with Cardlay, a FinTech company based in Denmark, which recently launched a payment cloud solution that integrates issuers, processors and technology providers to enable end-to-end virtual card creation and reconciliation.

Through this partnership and planned integration, Cardlay will offer a cloud solution that helps a bank’s corporate cardholders to capture, verify, and reconcile card spend easily. Corporate cardholders will benefit from a closed-loop of optimized, automated processes to save time, avoid errors, reduce fraud, and secure data enrichment.

With the Cardlay virtual card integration, companies using Concur Expense will:

• Gain pre-authorization and control of company spend before it happens.
• Leverage a mobile application that enables virtual cards for uncarded or infrequent travellers.
• Use virtual card spend controls and simplified approval workflows.
• Take advantage of automated integration and reconciliation of virtual card data in SAP Concur.

Cardlay CEO Jørgen Christian Julul said: “The SAP Concur partnership simplifies and streamlines corporate card management for companies around the world. This collaboration ensures the transition from out-of-pocket payments to distribute corporate payment cards to all employees. Leverage and bring great value to your bank. It is planned to deliver immediate benefits such as streamlining processes, improving data, minimizing fraud, reducing errors, and gaining control. Commercial payments have undergone extensive development, and Cardlay sees a great opportunity to create powerful integrated solutions that bring many benefits to global enterprises. “

Recently, IBS Intelligence reported that Global payments technology company Mastercard has partnered with SAP Concur to deliver a faster and more efficient expense and invoice management process to banks, companies and government agencies in the Asia Pacific (APAC) region for corporate cards.