Mastercard is making interactions easier and more scalable between banks, platforms and corporates alike by unveiling a new program intended to drive adoption of virtual cards. This change will leverage a recent enhancement to Mastercard's embedded Virtual Card Number (VCN) technology that enables seamless consumer-like experiences for commercial payments., and corporates by unveiling a new program intended to drive adoption of virtual cards. This change will leverage a recent enhancement to Mastercard's embedded Virtual Card Number (VCN) technology.

Mastercard has been focused on Virtual Card Number (VCN) solutions for decades through its VCN platform as well as through partnerships and integrations with a broad network of platform-partners. Mastercard is already working with both ERP (enterprise resource planning) platforms and offering VCN-led innovations that automate workflows for end-corporate users.

Some of these partners provide working capital, expense tools, meetings and events technology, and even hotel booking. This has allowed for the simpler adoption of virtual cards into corporate workflows.

Beginning April 1st, banks that have built on MasterCard VCN technology in the last several months will be able to enable platform-partners that have opted into a new effort to encourage the adoption of embedded, consumer-like experiences for commercial payments. This benefits the banks, platform-partners, and end corporate customers as follows.

Banks will experience advantages from expanding and will be exposed to more opportunities for embedded payments.Platform-partners will take advantage of being able to offer embedded payments with less integration effort.Corporate users will benefit from a more consumer-like payment experience with fewer clicks.

Corporate employees are increasingly expecting similar consumer-like payment experiences to that of everyday life, and Mastercard is meeting this need, by simplifying their process by embedding VCN technology into the transfer systems that corporates utilize, for an effective, streamlined processes. Mastercard’s new program will lower long-onboarding times, creating efficiencies for all parties in the VCN ecosystem market, as commercial payments continue to evolve in a serviceable $80 trillion market.

With the implementation of this new program, both the banks and platform-partners that are onboarding, will no longer have to engage without directly with each other, which makes onboarding more streamlined and takes away a major integration barrier. Now that the corporate users are being integrated, in the VCN technology, they will find themselves to be able to re-use tools that they already use on a daily basis, such as their ERP partner, to use VCN technology with less clicks required to perform their daily activities and streamline their entire processes.