LUNADIS is partnering with Cardlay around a new open-loop card and expense management solution.

Copenhagen, April 20th 2023: Cardlay, a leading fintech company based in Denmark, and LUNADIS, part of the DKV Mobility Group are thrilled to announce the successful launch of LUNADIS Pay, a fully integrated, private label card and expense management solution that includes Cardlay’s Vattax module, an automatic EU VAT reclaim tool. The solution will be launched in Germany.

Cardlay’s technology platform provides LUNADIS with a competitive advantage, enhancing the capabilities and customer experience of their existing customers. LUNADIS Pay was recently launched successfully on the strength of Cardlay’s innovative and agile spend management platform, an all-in-one advanced software ensuring a coherent, secure, and real-time user experience. Cardlay’s standard, flexible and fully agnostic platform including SCA-approval and PCI DSS compliance, enables LUNADIS to offer their corporate customers a scalable spend management offering. This fuels the strategic ambition of LUNADIS to manifest the leading commercial cards position in Europe by offering advanced cards and spend management solutions to cater for mobility related services as well as all other corporate spend.   

“Together with Cardlay, we aim to make an easy, paperless and fully digitalized solution for our customers across Europe. Our customers will benefit from an open-loop card solution with positive administrative and cost effects. From integrated card management to expense management and VAT reclaim, which due to automation is possible for even small amounts.” says Frank Hock, Managing Director LUNADIS.   

The integrated solution eliminates the burdens of managing cards, expenses and reclaiming foreign VAT at the same time it expands the usage of cards and increases the transaction volumes. 

The solution is built on advanced APIs. Thanks to the embedded verification platform IDNow, customers get an easy plug-and-play set up, including self-onboarding. Customers will be able to automate and streamline their processes around spend management and expense handling by complementing their existing card programs as a seamless add-on.

Cards can be ordered as needed with individual spend limits for each employee, easily added to a mobile wallet and as soon as a transaction is made, the employee will be notified and ready to enrich the expense in the app. 

For administrators, the web portal provides them with a complete overview of all cards, employees, teams, and expenses. All expenses can be tracked, easily made ready for accounting, and exported. In addition, the corporates can easily reclaim VAT on foreign expenses directly through the embedded solution. 

The ability to integrate Cardlay’s innovative spend management solutions means that LUNADIS can focus on what they do best, now also allowing them to benefit from safe, secure, and efficient spend management,” explains Cardlay CEO Jørgen Christian Juul. “It has been a pleasure working with the professional and dedicated team at LUNADIS and we are proud to partner with them to ensure both business and customers are provided with the best tools to handle their corporate expenses.” 

Cardlay’s fully agnostic white label spend management platform provides banks, issuers, and corporate fleet card providers with flexible integration options, including APIs that allows issuers and banks to integrate their solutions seamlessly into their existing infrastructure. With a high level of speed, flexibility and safety, corporations can launch next generation spend management solutions ensuring them to stay relevant. 

Cardlay will continue to roll out its global growth strategy by delivering integrated solutions for commercial payments. This will make it easier for customers to integrate budgets, authorization processes, payments, and reconciliation in a safe, simple, and automated flow, minimizing errors and fraud. 

About Cardlay: Cardlay is a Danish fintech company founded with a clear purpose: We want to drive effortless corporate spend by making it easy for businesses to handle cards, payments, and expenses. We deliver fast-scalable white-label and Cardlay branded solutions to enable and serve banks, card issuers, processors, and other financial institutions with the newest intelligent commercial payment infrastructure and front end. We secure the digital connectivity to serve the end-user's needs with a short time to market and a full go-to-market support solution, ensuring new revenue streams and cost-savings. Our platform is PCI-DSS certified and hosted in a dedicated AWS environment with the highest level of security certification.

About LUNADIS: LUNADIS is a company of the DKV Mobility Group and was founded in 2017. As a member of the DKV Mobility Group, LUNADIS offers its customers access to regulated financial and payment services. In January 2020, LUNADIS received permission from the German Federal Financial Supervisory Authority (BaFin) to offer acquisition business and financial transfer business as a payment service provider. Currently, LUNADIS offers rental toll/rental services, security services and LUNADIS Pay. LUNADIS intends to offer further financial and payment services to the customers of the DKV Mobility Group as it continues to develop and expand its business operations.