Cardlay’s Payment Cloud Connects Banks with Concur® Expense to Solve virtual Payment Pains for Corporations

Cardlay is thrilled to announce the integration of its Payment Cloud solution with Concur® Expense, currently available for the UK market. The solution enables new and existing businesses that use the SAP® Concur® portfolio to benefit from an integrated, carbon-neutral and secure virtual card offering without changing their current bank relationship. Payment Cloud supports real-time issuing of virtual cards, which offers corporations a fast, sustainable, and secure way of paying for what they need.

“We have followed the development of virtual cards closely for the last few years, and we anticipate that within the next 3 years, 40% of all commercial cards will be virtual,” explains Cardlay CEO Jørgen Christian Juul. “We are incredibly proud to take part in driving this movement and to see the integration live and solving real challenges for corporations is beyond amazing.”

The solution’s integration with Concur Expense and banks is built on advanced APIs in the core of the existing banking infrastructure. This allows customers to plug and play their financial institution while still enjoying integrated virtual card management. Customers will be able to automate and streamline the management of spend and expense handling through an add-on to existing card programs.

Concur Expense integration allows businesses to request virtual payment cards without additional setup. The virtual card can be easily added to a mobile wallet. Once the card has been used, Concur Expense receives the transaction data, enriched with the transaction data. Managers can approve new cards or deny them, and they can also set spend controls.

Inspiring Learning is one of the first customers to receive the integration. This UK-based company provides children with educational and entertaining adventure programs.

“The way we previously handled expenses at Inspiring Learning was super time-consuming, involving many people manually entering data in separate systems and without upfront control and overview of what’s being spent. With this new integration, we have already seen a cut in the admin time, which is very valuable for us,” Emma David, Management Accountant at Inspiring Learning. “It is easy to use and convenient with instant issuance of cards. The integration with Concur Expense is working well and saves us both time and money.”

Cardlay will continue its global growth strategy through the delivery of integrated solutions for commercial payment. Customers will be able to easily integrate budgets, authorization processes, payments, and reconciliation in a safe and simple flow that minimizes errors and fraud.

Payment Cloud’s integration with Concur Expense is currently being rolled out in the UK and will be available in multiple banks and currencies within the next year.

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