Mastercard, Extend Partner on Bank Spend-Management Tools

Mastercard and Extend have partnered to help issuing banks provide businesses with greater control over commercial card spending.

Mastercard’s payments network will be combined with Extend’s technology for issuing and managing virtual and physical cards. The offering is intended for banks seeking to give business customers tools to set spending controls, manage cards and monitor transactions through digital platforms.

The partnership is intended to support banks as they expand commercial payment services and respond to demand for digital spending management. Mastercard and Extend did not provide details on the launch timing or market availability.