Mastercard announced a series of enhancements to Mastercard In Control, its virtual card number (VCN) platform that now includes advanced virtual card controls to help reduce risk across the full payment lifecycle.
“As payments become more digitized and embedded into business workflows, expectations for performance, security and control are higher than ever,” says Marc Pettican, global head of corporate solutions at Mastercard. “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.”
Key takeaways:
· Mastercard’s VCN ecosystem now includes issuers, direct platforms and corporates transacting across 43 countries and 174 currencies.
- Issuer enforced controls applies at the point of virtual card number creation and allows issuers to set baseline guardrails, such as spend limits, transaction limit caps, and validity periods, helping ensure complaint controls are in place from the start and reducing fraud risk across virtual card programs.
- Clearing controls extend control validation beyond authorization into the clearing stage. New enhancements enable corporates and platforms to block invalid transactions, apply more precise controls, and better manage payment timing, while supporting centralized policy management as programs scale.
- Expanded card controls, including the ability to apply multiple control sets at the real card level, enable controls to be enforced across all transactions and associated virtual cards without handling sensitive credentials
- Simplified integration and accelerated access to end-to-end payment capabilities enable virtual card creation and payment initiation in one seamless step.
