The integration 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 way of paying for what they need.
The solution is built on APIs in the core of the existing banking infrastructure. This enables a plug-and-play set-up for the customer and allows them to select their preferred financial institution, while still getting the benefits of integrated virtual card management. As such, customers will be able to automate and streamline their processes around spend management and expense handling by complementing existing card programmes as an add-on.
Through the integration, businesses that use Concur Expense can easily request and access virtual payment cards, with no additional set up. The virtual card issued can easily be added to a mobile wallet, and as soon as the card is used, the transaction data is automatically sent to Concur Expense, enriched with data connected to the transaction. Managers can approve or deny new cards and set spend controls in real-time.
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 2023.
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