Integrating Mastercard’s virtual card technology into Oracle’s Fusion Cloud Enterprise Resource Planning (ERP) platform, this new system offers an integrated approach to business-to-business finance and payments. The move aims to address longstanding inefficiencies in corporate payment processes by reducing manual data entry, streamlining workflows, and enhancing financial visibility.
Corporate clients of FAB are anticipated to benefit from faster transaction processing, greater transparency in data, and improved control over cash flow. This pilot was launched during the Oracle CloudWorld Tour in Dubai and aligns with recent trends in Embedded Finance, where digital tools are embedded into enterprise systems to enhance financial operations.
Virtual cards within ERP systems
The embedded virtual card solution allows commercial users to make payments using single-use card numbers, thereby reducing fraud risks and improving data security. By streamlining payment processes directly within Oracle’s ERP environment, the system simplifies implementation without external costs.
According to Mastercard officials, virtual cards are increasingly significant as businesses adapt to digital transformation. The embedded card solution plays a crucial role in helping companies digitize payment processes and reduce operational friction.
FAB’s adoption of this solution responds to regional payment challenges highlighted by data from the 2024 ‘Payment Practices Barometer,’ which shows that approximately 40% of UAE-based firms cite inefficient payment systems as a primary cause for delays. FAB officials stated that automating these processes could help clients manage operational costs and improve supplier relationships through more reliable payment cycles.
Additionally, the embedded model is expected to assist in regulatory compliance and facilitate cross-border transactions using Mastercard’s international network.