MasterCard's Corporate Cards Now Good in All Mobile Wallets
On Wednesday, MasterCard announced its commercial credit card issuers will be provided with tokenization services. Thanks to this improvement, business travelers will soon be able to load corporate credit cards onto their participating mobile and digital wallets.
“Digitizing commercial payments will help make business travel even more convenient without sacrificing any of the core controls and value,” said Sachin Mehra, executive vice president of Global Commercial Products, MasterCard. “We’re committed to ensuring all MasterCard cardholders can use their cards when, where and how they want in a simple and secure manner.”
This has been made possible due to MasterCard’s Digital Enablement Service (MDES), which ensures security for connected devices. MDES supports NFC payments from mobile devices at physical points-of-sale as well as purchases made with mobile apps. Industry-standard EMV cryptography keeps transactions secure.
MasterCard also recently launched its Digital Enablement Express Program in September. The program gives token requestors, or digital commerce providers, a simple way to help consumers conduct safe and secure transactions using MasterCard accounts.
Capital One, Fifth Third Bank and Key Bank are all early adopters of the Express program, and Android Pay and Samsung Pay are the first digital partners to participate. The Express program gives these issuers a consistent set of rules to follow so there is no need to negotiate individual contracts.