Virtual Cards Find Their Way to Mobile Wallets, BTN

Among various initiatives underway, virtual card technology company Conferma Pay is trialing an upgrade of its app to store virtual numbers in an Android or Apple mobile wallet. Payment is made by holding the phone to a near-field communication reader and then providing a secondary form of authentication, such as thumbprint identification. "E-wallet enablement is here," said Conferma Pay CEO Simon Barker. Visa told BTN it is working on a similar development.

Conferma Pay's mobile strategy includes becoming an issuer to corporate clients in its own right for the first time, offering a prepaid option through the mobile wallet. "It's our plan to enable all our intermediary partners to deliver mobile virtual payment, but where the intermediary isn't a partner, we can deliver directly to the corporate client," Barker said.