BMO Financial Group is launching a co-branded app with Extend to offer virtual Mastercard-issued cards for its commercial banking clients, making expense management easier and more convenient.
Facts
- BMO is partnering with Extend to launch a co-branded app for its commercial banking clients.
- The Extend for BMO app will allow clients to manage virtual Mastercard-issued cards within employees’ mobile wallets in the US and Canada.
- Clients can use the app for online, in-app, and in-store payments, complete with spend controls and simplified receipt and reconciliation processes.
- Derek Vernon, Head of Treasury and Payment Solutions at BMO, emphasizes that this offering equips corporate card clients with tools to manage their businesses efficiently.
- BMO aims to simplify banking for its clients and provide secure digital payment tools through this partnership with Extend and Mastercard.
- BMO and Extend first collaborated in December last year to enhance payment functionality in the BMO corporate card program.
- Andrew Jamison, Extend’s CEO, sees enabling virtual cards in mobile wallets as a significant step towards widespread adoption.
- Marie Elizabeth Aloisi, EVP at Mastercard, highlights that enabling virtual cards for mobile wallets is advancing the digitization of business payments.
