Mastercard has expanded its Mastercard Wholesale Program, which supports B-to-B travel payment transactions, into Brazil via an expanded partnership with Citi, the companies announced.
With the collaboration, Citi will issue virtual cards for travel businesses—including agencies, tour operators, online travel agencies and other intermediators—to pay hotels, airlines and other suppliers. With the Mastercard Wholesale Program, travel businesses have unique virtual card numbers for each supplier payment for better security, automation and traceability, according to the companies.
In a statement, Mastercard Brazil president Marcelo Tangioni said adding Brazil to the program "marks a new phase in Mastercard's strategy to expand its presence in B2B payments within the travel industry, a market undergoing growing digital transformation and increasingly demanding financial efficiency."