19 April 2024

Mastercard launches virtual card app

Written By FinTech Alliance

Mastercard launches virtual card app

Aiming to simplify travel and business expenses.

In brief:

- HSBC Australia and Westpac have signed on as the first banks to offer a new Mastercard app that enables virtual commercial cards to be added to digital wallets.

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

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

What does this mean?

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."

Read more here.

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