HSBC Australia and Westpac have become the first banks to sign a deal to offer a new Mastercard app that allows virtual business cards to be added to digital wallets.
Mastercard says its mobile virtual card app will simplify travel and business costs for the banks’ business customers.
“Businesses around the world are looking for 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, Commercial Solutions, Mastercard.
The app leverages Mastercard’s virtual card and tokenization platforms, advanced data, security and spending controls through a single interface.
John Scott, head of global payments at HSBC Australia, said: “Mobile wallet usage is increasing, with Asia Pacific accounting for over half of digital payment transactions globally.”
“As contactless payments continue to grow, it is important that corporate customers have access to best-in-class payment solutions to protect their business and benefit from the increased efficiencies offered by the latest technologies.”