Mastercard launches app to simplify travel and business expenses

By Gloria Mathias

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.

“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,” said Chad Wallace, global head of Commercial Solutions, Mastercard. “With today’s launch, we’re providing innovative tech that digitizes business and travel expenses while also empowering businesses with more control over and visibility into their finances.”

The app leverages Mastercard’s virtual card and tokenization platforms, enhanced data, and robust spend controls all within one easy-to-use interface. Accessing Mastercard mobile virtual cards is made seamless 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, including healthcare, insurance, fleet, higher education, and corporate travel.

HSBC Australia and Westpac will be the first financial institutions to offer organisations and corporate customers mobile wallet functionality through the Mastercard app.

“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,” said John Scott, Head of Global Payments, HSBC Australia. “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.”

“Westpac is pleased to be one of the first domestic banks in Australia to offer the new Mastercard mobile virtual card app to our corporate and commercial customers in addition to our existing virtual card capabilities,” said Jeff Byrne, Managing Director of Global Transaction Services at Westpac Institutional Bank.

The app will be available in other key markets for users with a commercial virtual card issued through an organization by a participating financial institution.