Cardlay, a leading Danish commercial banking as a service payment FinTech, today announced it is collaborating with SAP^® Concur^®, the world’s leading brand of travel, expense and invoice management solutions, on an integration that is designed to allow banks to issue and manage virtual payment cards for their corporate card holders. 

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

Cardlay’s solution is planned to enable employees to operate their card through digital wallets on a mobile app and web portal, integrated with Concur Expense, and managers will be able to issue and control virtual cards for employees.

Employees will be capable of quickly requesting a payment card via the app before any company spend occurs. Managers can then approve/deny new cards, set spend limits and review settings. Virtual cards would be added easily to digital wallets, and as the card is used, the transaction data would be available in the SAP Concur service to be reconciled. 

Jørgen Christian Juul, CEO at Cardlay, said: “Through our SAP Concur partnership we can simplify and streamline corporate card management for companies globally. The collaboration brings banks enormous value, leveraging the distribution of corporate payment cards for all employees by securing the transition from out-of-pocket payments. This is planned to enable immediate benefits such as streamlined processes, improved data, minimized fraud, reduction in errors, and increased control. Commercial payment is going through a massive development and we see a great opportunity for Cardlay to create powerful integrated solutions with numerous benefits for global companies.”

Currently, companies need to plan, predict future needs and issue cards accordingly. Cardlay’s integrated solution with Concur Expense is planned to enable banks to deliver a sophisticated and integrated card management capability to their corporate card holders to issue a payment card and simultaneously approve a budget.