भुगतान विशाल मास्टर कार्ड has launched a new mobile app that allows virtual commercial cards to be added directly to digital wallets, enhancing contactless payment solutions for businesses.

This app is a development aimed at providing financial institutions with more options to offer secure and eco-friendly payment methods.

The mobile virtual card app draws on Mastercard’s decade-long expertise in virtual card solutions that streamline the expense reporting and reconciliation process.

This is particularly beneficial for employees and contractors who previously had to rely on personal cards or cash for business expenses.

The app addresses the shift towards digital payments, especially among millennials, who are increasingly using digital wallets.

The app integrates Mastercard’s tokenisation technology and virtual card platforms, providing enhanced security and spend management within an easy-to-use interface.

Users can quickly add their virtual cards to digital wallets, facilitating contactless payments across various industries, including healthcare, education, and corporate travel.

Features of the app include biometric authentication, PIN security for accessing card details, and customisable transaction controls that help organisations adhere to expense policies.

The app also offers real-time data capture and transaction matching to assist in financial reconciliation and provide insights into spending patterns.

HSBC Australia and Westpac are the first to offer this mobile wallet functionality, with plans to expand the service to other key markets.

Users who register with an invitation code will have their commercial virtual cards ready for immediate use in selected digital wallets, leveraging Mastercard’s global network.

“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.

With today’s launch, we’re providing innovative tech that digitises business and travel expenses, while also empowering businesses with more control of and visibility into their finances.”

said Chad Wallace, Global Head of Commercial Solutions, Mastercard.

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• स्रोत: https://fintechnews.sg/94812/payments/mastercard-launches-mobile-app-for-adding-virtual-cards-to-digital-wallets/