Mastercard Upgrades Virtual Card Platform for B2B Payments

Mastercard In Control is a virtual card number platform that lets businesses pay suppliers with tightly controlled credentials while embedding payments into procurement, travel and accounts-payable workflows. The model is gaining importance as companies digitize B2B spending and seek better oversight of cross-border payments, working capital and reconciliation. Mastercard cited research showing that 69% of companies struggle to integrate payment and business systems, highlighting the demand for simpler connections between financial institutions, corporate platforms and enterprise software.

Mastercard announced the upgrade in Singapore on July 24, 2026, adding a single access point through its Commercial Connect API, broader embedded-payment capabilities and tighter security controls. Its virtual-card ecosystem spans 43 countries and territories, including 14 in Asia-Pacific, and supports 174 currencies. Mastercard said virtual-card fraud rates are less than one-fifth those of non-virtual cards. Citi is already live with the new Issuer Enforced Controls and enhanced Clearing Controls and is expected to become the first issuer to roll them out globally later in 2026.