Mastercard Innovates in Digital Assets and Commercial Payments

Mastercard is working on the “Multi-Token Network” to provide infrastructure for digital asset transactions. This system aims to offer infrastructure for consumers, merchants, and financial institutions to engage in digital asset transactions. By integrating both on-chain and off-chain asset flows, it is designed to ensure compliance and optimize the user experience. Since 2015, Mastercard has applied for over 250 blockchain-related patents and is collaborating with institutions such as JPMorgan Chase and Standard Chartered to explore scenarios like cross-border payments and carbon credit tokenization.

Mastercard is also launching a new program to modernize commercial payments, accelerating the adoption of virtual cards. Supported by Mastercard’s cutting-edge Virtual Card Number (VCN) technology, this transformation promises smoother, consumer-like commercial payment experiences among banks, platforms, and corporate clients.

Mastercard Modernizes Commercial Payments with VCN Technology

For years, Mastercard has been providing virtual card solutions through its VCN platform and working with ERP platforms to automate corporate workflows. VCN technology facilitates the fast integration of virtual cards into corporate workflows. Starting on April 1st, banks using Mastercard’s VCN technology will begin offering integrated payment systems to platform partners. This will enhance scalability for banks and create a more efficient payment experience for corporate users.

Mastercard’s VCN technology allows corporate users to easily make payments in their daily workflows. For example, invoices or other expenses can be paid with a single click or processed automatically. The new program simplifies the integration process between banks and platform partners, eliminating the need for formalities such as contracting and technical requirements.

Mastercard’s new approach to commercial payments makes transactions faster, simpler, and more secure, and by removing integration barriers, it is accelerating the adoption of commercial payment innovations, providing more efficient payment solutions.

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