Skift Take
Mastercard knows it’s not the only player in the world of mobile virtual cards. With its new app, Mastercard wants to stand out as an MVP in streamlining corporate travel while serving a wave of companies adopting this innovation.
Mobile virtual cards aren’t new. A virtual card assigns a unique number to a transaction or a specific period of time. Companies can set spending controls on these card numbers so that employees don’t go over a limit. You can store these virtual cards on your phone.
But what is new is that Mastercard and other players are making these cards easier to access in digital wallets on employee phones.
Mastercard on Thursday announced a mobile virtual card app. Skift wanted to understand how this move fits into the broader evolution of corporate travel. So we spoke with Mastercard's global head of commercial solutions, Chad Wallace. Here are some takeaways:
Why does this matter?Mastercard says its new app could help streamline corporate travel expenses. Here's some backstory, first:
Not everyone at a company needs “the corporate car