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Mastercard is set to revolutionize commercial payments with the launch of a new program designed to integrate embedded virtual card technology seamlessly into business transactions.
Starting in April, banks utilizing Mastercard’s Virtual Card Number (VCN) technology can enable platform partners enrolled in the program to enhance commercial payments with consumer-like digital experiences. By embedding VCN technology into corporate payment systems, Mastercard aims to streamline transactions, eliminate lengthy onboarding processes, and accelerate the adoption of virtual card payments within an estimated $80 trillion serviceable market.
One of the key advantages of the program is its ability to simplify interactions between participating banks and platform partners. With direct engagement no longer required, businesses can seamlessly integrate VCN technology into their existing enterprise resource planning (ERP) systems, reducing the number of steps needed to complete daily transactions.
Mastercard highlights multiple benefits for stakeholders:
- Banks gain scalability and access to new embedded payment opportunities.
- Platform partners can offer embedded payment solutions with minimal integration effort.
- Corporate users enjoy a frictionless, consumer-like payment experience within tools they already use.
This initiative underscores Mastercard’s commitment to advancing digital payments by making commercial transactions more efficient, intuitive, and scalable for businesses worldwide.
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