The Visa Commercial Pay cards can be issued individually or by batch and offer real-time control, allowing business administrators and managers to closely manage spending within their teams. Controls can be applied to enable where, when, what and who can be paid. Employees can request a virtual card for their business-related purchase, whether it be contracted spend or an ad-hoc purchase, subscription payment or business travel. Lloyds has additionally integrated the cards with travel and expense management system SAP Concur, offering automted payments to suppliers and no requirement for an invoice.Business spend management has been an administrative challenge that has been addressed by a host of fintech startups for the past few years, leaving traditional banks looking antiquated. In rolling out its virtual card service, Lloyds is looking to counter the threat posed by the new wave of startups. Both the link up with SAP Concur and introduction of Visa Commercial Pay are UK banking firsts.James Sykes, head of vommercial cards at Lloyds Bank, comments: “We’re proud to have developed this new solution with Visa and to be the first in the UK to link our virtual card solution to SAP Concur’s Invoice Payment System. We’ve worked hard to create a solution that offers a secure, simplified process that enables businesses to pay their suppliers earlier while protecting their working capital.”