MasterCard Enables Corporate Card Use in All Digital Wallets
U.S. and UK First to Benefit from Additional Choice in How to Pay
for Business Travel Expenses
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PURCHASE, N.Y.–(BUSINESS WIRE)–MasterCard today announced it will provide tokenization services to
commercial credit card issuers. Soon, corporations and business
travelers will be able to load eligible corporate credit cards within
participating mobile and digital wallet services.
Watch a short video about the value of tokenization support on corporate
cards here.
With the addition of corporate cards, MasterCard will now enable
tokenization across virtually all its products – consumer credit, debit
and prepaid cards, as well as small business and commercial cards. This
functionality is made possible through the MasterCard Digital Enablement
Service (MDES), which enables a connected device to be securely used for
business purchases and payments.
Major merchants frequented by business travelers already accept
contactless and in-app payments from digital wallet solutions.
“Digitizing commercial payments will help make business travel even more
convenient without sacrificing any of the core controls and value,” said
Sachin Mehra, executive vice president of Global Commercial Products,
MasterCard. “We’re committed to ensuring all MasterCard cardholders can
use their cards when, where and how they want in a simple and secure
manner.”
MDES supports both contactless (NFC) payments with a mobile device at a
physical point of sale and purchases made within a mobile app.
Transactions are secured using industry-standard EMV cryptography and
take full advantage of the most secure payments technology in the world.
Since the introduction of MDES in 2013, millions of MasterCard accounts
have been tokenized for use in popular mobile wallet services.
Additional information can be found at the MasterCard
Engagement Bureau.
About MasterCard
MasterCard, www.mastercard.com,
is a technology company in the global payments industry. We operate the
world’s fastest payments processing network, connecting consumers,
financial institutions, merchants, governments and businesses in more
than 210 countries and territories. MasterCard’s products and solutions
make everyday commerce activities – such as shopping, traveling, running
a business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MasterCardNews, join
the discussion on the Beyond
the Transaction Blog and subscribe for
the latest news on the Engagement
Bureau.
Contacts
Media:
Flor Estevez, 914-249-2118
Flor_Estevez@mastercard.com
or
Sarah
Ely, 914-249-6714
Sarah_Ely@mastercard.com
