Mastercard unveils new VCN initiative for banks

Aimed at commercial payments players

Starting from April 1, 2025, banks utilising Mastercard’s cutting-edge Virtual Card Number (VCN) technology can enable a new programme for platform partners, helping to accelerate the use of embedded virtual card technology within commercial payments.

The programme brings significant benefits to banks, platform partners, and corporate users alike. It is set to transform the commercial payments landscape by offering businesses a seamless, consumer-like payment experience.

As a pioneer in virtual card solutions, Mastercard has been leading the way with its VCN platform for decades, forging partnerships with platform providers to create integrated, innovative solutions.

From enterprise resource planning (ERP) platforms to expense management tools and hotel booking services, Mastercard has built an extensive network of partners to simplify the implementation of VCN technology into corporate workflows.

Scalability option

The new VCN programme offers scalability for banks and opens up more embedded payments opportunities. On the other hand, platform partners can integrate payment systems with less technical effort, reducing the complexities often associated with incorporating new payment methods. Corporate users will enjoy a streamlined, consumer-like payment experience with fewer steps, simplifying what can traditionally be cumbersome.

As consumer-like payment experiences become increasingly common in personal transactions, corporate employees expect the same simplicity regarding business payments. Mastercard addresses this demand by embedding VCN technology directly into systems that businesses already use, such as ERP software, to make commercial payments more manageable and efficient.

In doing so, Mastercard aims to reduce the friction associated with traditional corporate payments. The new VCN programme helps automate and streamline workflows, cutting out unnecessary steps and providing a more intuitive user experience. This is particularly important as the global market for commercial payments continues to grow, with a value exceeding $80 trillion.

A major barrier to the widespread adoption of VCN technology has been the lengthy onboarding processes typically required by banks and platform partners. Mastercard’s new programme removes this obstacle by simplifying the integration process, eliminating the need for direct relationships between banks and platform providers.

In the past, businesses would have to undergo months or even years of negotiation, contracting, and technical vetting before they could begin using virtual card technology.

Onboarding process

With Mastercard’s new approach, the onboarding process is drastically shortened, allowing corporate users to seamlessly start using VCN technology with the tools they already use daily, such as ERP systems like HRS and Cvent. This accelerates the adoption of VCN technology and enables employees to complete their tasks with fewer clicks, thereby improving productivity across the board.

For many companies, disparate and inefficient payment systems hinder the smooth flow of business operations. Mastercard’s VCN technology eliminates this problem by embedding virtual card payments directly into the software solutions businesses already use. Corporate employees can now complete tasks such as paying invoices or managing expenses with the click of a button or even through automated processes.

This consumer-like payment experience enables businesses to process payments swiftly and securely, eliminating the need for extensive training or technical expertise. Mastercard’s commitment to simplifying payments for corporate users ultimately contributes to a more efficient and cost-effective business environment.

Mastercard’s innovative approach to embedded virtual card technology is paving the way for the future of commercial payments. By reducing integration barriers and accelerating the adoption of VCN solutions, Mastercard is positioning itself as a leader in transforming the payment experience for banks, platform partners, and corporate users.

The new VCN programme marks the beginning of a new wave of innovation in the payments industry. With faster, more straightforward, and more secure payment solutions on the horizon, Mastercard is set to transform the way businesses handle their commercial payments.

Image: Mastercard’s innovative approach to embedded virtual card technology is paving the way for the future of commercial payments. Credit: Lima Santos