Through a new partnership, Mastercard and Booking.com are simplifying business-to-business payments in the travel industry, leveraging Mastercard’s virtual cards for more transparent and secure transactions.
The goal is to end the time-consuming manual processes in B2B payments. Virtual cards offer enhanced security, with a 30x lower fraud risk compared to traditional payment cards.
More Businesses Are Adopting Virtual Cards
A virtual credit card is a digital payment method that is specifically designed for businesses—it’s a digital version of a traditional physical corporate credit card.
Virtual cards are increasingly popular among businesses for many reasons. For one, they’re efficient. Many virtual cards are integrated into a company’s accounting system, which means that all expenditures made using the card are automatically updated with the payment settlement, giving a company a real-time view of its cash flow data.
They’re also more secure….