Mastercard launches virtual card app to simplify travel and business expenses

Mastercard says its mobile virtual card app will simplify travel and business expenses for banks’ commercial clients.

“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,” says Chad Wallace, global head, commercial solutions, Mastercard.

The app uses Mastercard’s virtual card and tokenisation platforms, enhanced data, security, and spend controls within a single interface.

John Scott, head, global payments, HSBC Australia, says: “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.”