Mastercard has announced a new mobile virtual card app that enables virtual commercial cards to be seamlessly added to digital wallets.
The app is designed to offer financial institutions more choice in how they deliver the secure and sustainable contactless payment solutions that companies increasingly expect.
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Chad Wallace, global head of Commercial Solutions, Mastercard, said: “Businesses worldwide are seeking fast and secure payment experiences, where payments can be made with just a click or tap, and finance teams can experience automatic reconciliation. With today’s launch, we’re providing innovative tech that digitises business and travel expenses, while also empowering businesses with more control of and visibility into their finances.”
The app leverages Mastercard’s virtual card and tokenisation platforms, enhanced data, and robust spend controls all within one easy-to-use interface. Accessing Mastercard mobile virtual cards is made easy through the app so users can quickly experience the benefits of tap to pay. Mastercard mobile virtual cards can be used by organisations spanning a range of sizes and industries.
Benefits of Mastercard’s mobile virtual card
Key capabilities and benefits of Mastercard’s mobile virtual card app include: Increased security, robust spend controls, flexible integrations, holistic and seamless payment experience and real-time and enhanced data.
John Scott, Head of Global Payments, HSBC Australia, added: “We’re pleased to partner with Mastercard to bring mobile wallet virtual cards to our Australian corporate clients, providing them with a smarter, safer, and faster way to pay. Mobile wallet usage is growing, with the Asia-Pacific region accounting for over half of the digital payment transactions globally. As contactless payments continue to surge, it’s important that corporate clients have access to best-in-class payment solutions to keep their business secure and take advantage of the increased efficiency offered by the latest technologies. HSBC has a history of delivering innovative digital solutions to our corporate clients, and we’re proud to add to that legacy with the launch of mobile wallet virtual cards in Australia. We plan to launch in other markets later this year.”
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