FRAUD & ID VERIFICATION this adds a lot of value to any business that has supply chains or logistics.”
The focus on supply chain-intensive industries is strategic. These sectors typically involve numerous payment transactions between multiple parties, often with specific documentation requirements for each payment.
Beyond travel, Raj specifically mentions several industries beginning to adopt VCN solutions:“ Trade, transportation, CPG and pharmaceutical distribution to small retailers, and B2B marketplaces.” Each presents unique challenges that can benefit from the technology’ s flexibility.
As supply chains face increasing disruptions, the ability to maintain visibility into payments and their associated data becomes increasingly valuable.
Virtual cards provide this visibility while streamlining processes across complex business ecosystems.
“Embedded finance is the way to go and embedded payments is key to that”
RAJ SESHADRI, CHIEF COMMERCIAL PAYMENTS OFFICER, MASTERCARD
The data generated through these transactions provides another layer of value. Mastercard has invested significantly in AI capabilities to enhance its payment services.
“ We say VCNs are like a secret weapon,” Raj explains.“ Mastercard has been in the AI space for a couple of decades now, and we have amazing data – really clean, really good datasets. We are already using a lot of data and AI, whether it’ s traditional machine learning or agentic AI or Gen AI.”
This combination of payment functionality and data analytics creates opportunities for future innovation. As AI capabilities advance, Mastercard can extend the capabilities of its virtual card platform to address evolving business needs.
The company’ s pilots and implementations are already generating significant interest across industries. As businesses recognise the efficiency gains, cost reductions and working capital improvements, adoption is expected to accelerate.
“ We have a number of pilots that are up and running and some use cases that are in production,” Raj shares.
“ When you think about the control VCNs provide to buyers and suppliers, when you think about liquidity management and real-time data transport – it’ s one of these situations where the folks using it see immediate benefits. Embedded finance is the way to go, and embedded payments is key to that. And the VCN is key to embedded payments.”
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