Mastercard said on July 29 it upgraded its Mastercard In Control virtual card platform with issuer-enforced controls, clearing controls, and a single application programming interface (API) for virtual card creation and payment initiation, as businesses use virtual cards more for business-to-business (B2B) payments.

The updates expand Mastercard In Control’s use in expense management, procurement, and accounts payable reconciliation. More broadly, companies are adopting virtual cards for supplier payments, employee expenses, and travel.

Juniper Research estimated global B2B virtual card payments will reach US$14.6 trillion by 2029, reflecting demand for better security, spending visibility, and integration with accounting software.

Citi already uses both Issuer Enforced Controls and Clearing Controls and is expected to be the first issuer to roll out these virtual card features globally later in 2026.

Mastercard said its virtual card number (VCN) ecosystem supports transactions across 43 countries and territories, and 174 currencies.

The announcement follows Mastercard’s recent embedded virtual card transaction in Asia Pacific with Coupa, a US-based business spend management software company, HSBC, and Australia-based packaging company Pact Group.

Visa already allows third parties set controls when requesting virtual accounts.

🔗 Source: Mastercard