HSBC has partnered with Mastercard to launch a mobile virtual card solution for corporate clients in the UAE.

By embedding tokenised virtual commercial cards directly into digital wallets, businesses can now manage contactless business and travel expenditures more easily.

Using the Mastercard In Control for Mobile Payments platform, HSBC becomes the first global bank to introduce mobile virtual cards in the Emirates.

This integration enables secure virtual card numbers to live directly on devices, removing the need for physical corporate cards entirely.

Corporate users can load these cards into compatible digital wallets following a digital sign-up process via the Mastercard app.

Once activated, the virtual cards work for tap-and-go transactions at point-of-sale terminals, as well as for online and in-app corporate purchases.

Security is handled via tokenisation. Encrypting transactions this way shields actual card numbers from merchants during purchases, lowering the risk of fraudulent activities and unauthorised payments.

Administrators set specific spend controls within the platform and control how, when, and where employees use virtual cards.

This feature assists finance teams in ensuring employee expenses remain strictly within designated budgets.

Users themselves can also monitor their available balances, card limits, and transaction histories in near-real-time via the mobile application.

“The UAE is a fast-growing market for digital payments, with businesses increasingly adopting mobile-first solutions. At HSBC, we remain focused on delivering innovative solutions that meet our clients’ evolving needs,”

said Finali Fernando, Managing Director, Regional Head of Products, HSBC.

“As business payments become increasingly digital, virtual cards that can be integrated with mobile devices play a vital role in bringing consumer-grade simplicity to B2B payments. Our mobile virtual card solution now allows HSBC to deliver virtual cards to their corporate customers easily and securely,”

said Gina Petersen-Skyrme, SVP and Country Manager, UAE and Oman, Mastercard.

Featured image credit: Edited by Fintech News UAE, based on image by WangXiNa via Magnific