Extend, a virtual card and spend management solution, has embedded its virtual card functionality into Concur Invoice.
This deal marks the first fully embedded virtual card experience that keeps customers immersed in Concur Invoice from registration through payment, it claims. It is also the first time SAP Concur customers can register for virtual card services within Concur Invoice while keeping their existing corporate or purchasing card.
BMO, which is a partner of Extend, will become the first issuing partner bank to offer this option to its Corporate Card customers that are using Concur Invoice.
BMO Commercial Bank head of North American treasury and payments solutions Derek Vernon said, “BMO is dedicated to delivering convenient and secure tools that enable greater payment management functionality for our commercial clients, including being the first to offer virtual card options to our Corporate Card customers.
“By enhancing our clients’ banking experience through Extend’s new functionality, we are harnessing the power of payment innovation to help BMO commercial clients make progress toward their financial goals.”
Andrew Jamison, Extend co-founder and CEO, said, “Businesses want more from the tools they already use, and today’s news delivers that frictionless experience. We see this as a new era for embedded finance – one where software companies can access payment rails, banks can deploy services from within software systems, and businesses can easily tap into powerful tools for managing payments.”
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