Starting April 1, Mastercard is launching a new program that simplifies the integration of virtual cards into corporate platforms, reducing onboarding time to just a few days and accelerating payment processing.
Mastercard announced the rollout of a program aimed at the large-scale adoption of embedded virtual card technology in commercial payment systems. From April 1, banks using the Virtual Card Number (VCN) platform will be able to offer partners embedded payment solutions with minimal integration costs. The initiative is designed to accelerate the digital transformation of commercial payments in a segment valued at $80 trillion.
As part of the new program, Mastercard simplifies interactions between banks, corporate clients, and platforms by eliminating the need for direct contractual relationships between ecosystem participants. This reduces onboarding times from months to just days. Platforms, including ERP systems, travel management solutions, hotel booking services, and expense tracking tools, can embed VCN-based payments with minimal effort. End users, i.e., corporate employees, benefit from a familiar payment experience with just a few clicks.
Mastercard is already working with several ERP platforms and technology providers, including HRS and Cvent, to implement automated billing and expense payment scenarios using VCN. The new program simplifies access to these solutions for a broader network of banks and partner platforms, expanding the reach of the technology.
Mastercard’s initiative aims to eliminate fragmentation in corporate payments and standardize the user experience. By integrating VCN directly into the systems used by clients, the program simplifies processes, enhances security, and speeds up transaction processing. This marks the next stage in the evolution of commercial payments and paves the way for broader VCN adoption.
Just recently it was revealed that Mastercard is also developing a new payment infrastructure for digital assets, aimed at streamlining interactions between consumers, businesses, and financial institutions.
