J.P. Morgan Payments, Mastercard Launch Virtual Card Service in Europe

Many European companies still rely heavily on manual accounts-payable processes. Online travel agencies in the wholesale travel sector face the added challenge of paying hotels, airlines and car rental providers separately. J.P. Morgan Payments and Mastercard are bringing their North American B2B virtual card model to Europe to improve transaction controls, reconciliation transparency and payment security.

J.P. Morgan Payments and Mastercard announced the European launch of their virtual card service on March 18, 2026, covering industries including travel, insurance, healthcare and commercial real estate. The offering will use Mastercard’s B2B Supplier Enablement & Activation Service to accelerate supplier onboarding and support. The companies did not disclose the investment amount, transaction volume or revenue targets.