Financial Management Authority
Síminn Pay meets the requirements for electronic data submission for government corporate cards
26th October 2026
Síminn Pay has completed the second phase of the Financial Management Authority’s innovation project on electronic data submission for purchasing and corporate cards. The aim of the project is to simplify the reconciliation and posting of card transactions in Orri, improve data quality, and reduce manual work and paper use.
The solution now meets FMA‘s specified requirements. Development and testing of the other two companies’ solutions are continuing.
The project aims to simplify the settlement and posting of card transactions in Orri, improve data quality, and reduce manual work and paper use. It is a development and testing platform, not a procurement process. Each institution assesses which solution best meets its needs and conducts its procurement in accordance with the applicable procurement rules.
Further information https://island.is/en/p/innovation_formum/fintech-solutions-for-government-procurement-cards