Mastercard is introducing a new initiative to accelerate the adoption of Virtual Card Number (VCN) technology, making commercial payments more seamless and consumer-like. The program simplifies integration for banks, platform-partners, and corporate users, reducing onboarding time and improving efficiency in an $80 trillion market.
MALAYSIA, 31 MARCH 2025 – Mastercard is revolutionizing commercial payments with a newly launched program designed to accelerate the adoption of Virtual Card Number (VCN) technology. This initiative will simplify transactions among banks, platform-partners, and corporates by embedding consumer-like experiences into business payment systems.
The program, set to launch on April 1, allows banks using Mastercard’s VCN technology to seamlessly enable platform-partners without the need for direct integrations. This breakthrough eliminates complex onboarding processes, allowing platform-partners such as ERP providers, expense management tools, and booking platforms to incorporate virtual cards with reduced effort.
Simplified Payments for Banks, Platforms, and Corporates
Mastercard’s embedded VCN technology provides multiple benefits:
- Banks gain access to a scalable network of embedded payments opportunities.
- Platform-partners can offer seamless payment solutions without extensive integrations.
- Corporate users enjoy a frictionless, consumer-like experience with fewer steps in payment workflows.
Corporate employees today expect the same ease in financial transactions as they do in their personal lives. Mastercard addresses this demand by integrating VCN technology directly into systems businesses already use. This not only streamlines payment processes but also enhances security and automation.
Frictionless Onboarding and Enhanced Efficiency
One of the most significant improvements brought by Mastercard’s initiative is its ability to cut down the traditionally lengthy onboarding process. Previously, banks and platform-partners had to establish direct relationships, negotiate contracts, and undergo technical vetting—a process that could take months or even years. This new approach removes these barriers, allowing for near-instant access to VCN-powered solutions.
By embedding VCN capabilities into platforms like ERP systems, hotel booking tools, and meeting management platforms, Mastercard is ensuring that corporate users can complete transactions with minimal effort. Instead of lengthy payment procedures, businesses can settle invoices or expenses with a single click.
The Future of Commercial Payments
Mastercard’s push for virtual card adoption signals a shift toward a more digital and integrated commercial payments landscape. By reducing integration complexities and enhancing payment efficiencies, the company is paving the way for a future where virtual cards become the norm in corporate transactions.
As the global serviceable market for VCNs reaches $80 trillion, Mastercard’s latest initiative is set to drive innovation, improve financial efficiency, and create a more seamless payment experience for businesses worldwide.
