Following this announcement, the collaboration aims to set a new standard for fast and efficient spend management for commercial card issuers, as well as their clients and users. The strategic deal will combine Cardlay’s optimised white label spend management platform with Visa’s market expertise, as well as its extensive payment network and data capabilities.
This process is expected to offer fully embedded commercial cards and an expense management suite of solutions to their users. In addition, both financial institutions will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Throughout this collaboration, Cardlay and Visa are set to accelerate the growth and innovation in the commercial card issuing space. Cardlay’s platform is set to enable Visa’s customers, particularly issuers across multiple segments, to utilise their BIN’s structure with Cardlay’s white-label solutions in order to improve the overall customer experience.
At the same time, Cardlay’s modular cloud-native platform is expected to also unlock the opportunity for commercial card issuers to achieve a fast way to the market, with the ROI feature and the overall ability to make use of innovative data capabilities.
This process will take place with real-time virtual cards and Visa Fleet data that provides improved efficiency through rich data, information, insights, and cost reduction, as well as a crucial pivot toward sustainable transportation and mobility budgets to cater to specific market needs.
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