HSBC is the first bank to embrace the integrated solution and plans to offer virtual cards to HSBC and Oracle customers in the US and UK initially, followed by a global roll-out.

“Embedding HSBC’s financial services into the systems that our customers use day to day, is a key focus for us. We know that we have a lot of customers that bank with HSBC and use Oracle Cloud ERP and so this partnership makes perfect sense.” said Brian Tomkins, managing director, Global Head of Commercial Cards, HSBC. “We will be working with Oracle and Mastercard to open up the opportunity to our mutual customers around the globe.”

HSBC customers can use this service to manage cash flow, improve fraud protection, and potentially generate financial rebates. In addition, suppliers can benefit from faster payments, lower collection risk, and streamlined accounts receivable.

Commenting on the collaboration, Rondy Ng, executive vice president of applications development, Oracle said: “Business-to-consumer transactions have been getting faster and easier for years, but B2B transactions remain incredibly complex and inefficient. Our partnerships with HSBC and Mastercard are addressing these challenges and revolutionising how organizations transact. With this innovation, we’re helping organisations manage cash, access credit, secure financing, and make better decisions, all within Oracle Cloud ERP.”

Once Mastercard’s virtual cards are embedded, HSBC’s customers can get paid quickly and securely via Mastercard’s leading global payments network.

“Mastercard’s virtual card technology is well placed to play a significant role in transforming commercial payment experiences,” said Eugene Bourke, executive vice president, Global Partnerships and Segments, Mastercard. “By integrating finance and payment capabilities into Oracle Cloud ERP and working with banks like HSBC, businesses get simpler access to personalized services to grow their business”.