Banking

Pacific Western rolls out virtual credit card for business clients

Pacific Western Bank is partnering with the fintech Extend to provide business clients with the ability to generate virtual commercial Mastercards.

The Denver bank says it is the first in the country to make such a service available to clients through a white-label branded app.

“Launching a virtual card solution is a critical step in our ongoing effort to deliver a premiere digital banking experience,” Mark Yung, chief operating officer at Pacific Western, said in a press release. “Pairing enhanced security and a handy mobile app to manage and track payments, we are delivering our clients greater control over their payment processing needs.”

The PWB Virtual Card app lets users establish controls on each virtual card and set recurring cards for ongoing vendor payments.

Virtual delivery replaces a cardholder’s Mastercard account number with a secure token that protects the underlying card number from fraud or identity theft. Additional benefits such as improved reconciliation, receipt and invoice attachments will all contribute to seamless expense management integration.

“Demand for virtual cards has been accelerating as business clients are seeking modern solutions for B2B vendor payments, client pass-through payments, and card-less or remote employees,” Andrew Jamison, CEO and co-founder of New York-based Extend, said in the release. “We are very excited to bring the latest payments technologies to PWB and their clients.”



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