MasterCard has unveiled plans to offer tokenisation services to commercial credit card issuers, enabling corporations and business travellers to load eligible corporate credit cards within participating mobile and digital wallet services.
The company will enable the tokenisation functionality across its consumer credit, debit and prepaid cards, as well as small business and commercial cards.
The functionality will be offered via the MasterCard Digital Enablement Service (MDES) that allows a connected device to be securely used for business purchases and payments.
MDES supports contactless (NFC) payments with a mobile device at a physical point of sale as well as purchases made within a mobile app. Security of transactions is ensured through the use of EMV cryptography.
MasterCard executive vice president of global commercial products Sachin Mehra said: "Digitizing commercial payments will help make business travel even more convenient without sacrificing any of the core controls and value.
"We’re committed to ensuring all MasterCard cardholders can use their cards when, where and how they want in a simple and secure manner."