Mastercard has expanded its virtual card platform to give banks, businesses and payment platforms more control over payments.
The updates include new issuer controls, enhanced clearing controls and single API access to virtual card and embedded payment services.
“As payments become more digitised and embedded into business workflows, expectations for performance, security and control are higher than ever.
We’re expanding our virtual card capabilities to deliver more unified and scalable experiences — helping partners simplify how they implement and scale virtual card programs with greater security, control and consistency.”
said Marc Pettican, Global Head of Corporate Solutions at Mastercard.
Issuer Enforced Controls allow issuers to set spending limits, transaction caps and validity periods when creating a virtual card number.
Enhanced Clearing Controls extend transaction checks beyond authorisation. Businesses and platforms can block invalid transactions, apply more precise rules and manage payment timing.
Citi is already using both capabilities and is expected to become the first issuer to roll them out globally later in 2026.
Mastercard said virtual card fraud rates are less than one-fifth of those for non-virtual cards, with lower rates for cards issued through Mastercard In Control.
Mastercard Simplifies Virtual Card Integration
Mastercard has also enhanced its Commercial Connect API, giving customers one connection to its virtual card services and embedded payments partner network.
Businesses can create virtual cards and initiate payments through the same integration. They can also apply controls across related transactions and virtual cards.
The embedded virtual card programme, launched in March 2025, connects Mastercard virtual cards with expense management, enterprise resource planning and accounts payable platforms.
Dozens of partners have joined across travel, hospitality, healthcare and e-commerce. Mastercard has also worked with HSBC on a mobile virtual card service in the United Arab Emirates.
Mastercard’s virtual card ecosystem spans 43 countries and 174 currencies.
Featured image: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Magnific
