HSBC and Mastercard roll out mobile virtual corporate card in Hong Kong

HSBC’s commercial customers can issue virtual cards through a portal.

HSBC and Mastercard have launched Hong Kong’s first mobile virtual corporate card for commercial customers, according to a press release.

Beginning 19 June 2025, eligible HSBC commercial customers who are enrolled in the HSBC Virtual Mastercard Programme will have access to new digital wallet compatibility for virtual cards.

Businesses will be able to instantly issue virtual cards through the virtual card portal. Users can also add them to compatible digital wallets for immediate use via the Mastercard In Control Pay mobile app.

Businesses can activate or deactivate the mobile virtual cards anytime and anywhere, Mastercard and HSBC said.

“This solution elevates the benefits of virtual cards by integrating them with the simplicity and convenience of mobile payments, enabling effortless transactions for both online and in-store purchases as well as supplier payments,” said Yvonne Yiu, head of Global Payments Solutions, Greater China, HSBC.

In the first quarter of 2025, Mastercard said that contactless transactions made up more than 83% of its global card-present purchases (excluding the US).