BMO and Mastercard Enable Embedded Commercial Payments Directly Within Enterprise Software Across North America

• BMO becomes the first Mastercard issuer in Canada to enable eligible Corporate Card clients to initiate and manage virtual card payments within procurement and finance systems. 

TORONTO, Oct. 1, 2026 /CNW/ -- BMO and Mastercard today announced the availability of a new embedded Commercial payments capability that enables eligible Corporate Card clients to initiate and manage BMO Commercial virtual card payments directly within the software platforms they use to run their operations. Through this expansion, BMO becomes the first Mastercard issuer in Canada to offer an integrated embedded finance and payment experience by virtual card within participating platform integrations.

Now available for eligible clients in Canada and the United States, the solution integrates Commercial payments into enterprise resource planning (ERP), procurement, accounts payable and travel management systems, helping businesses manage payments inside their existing workflows.

Company payment workflows have historically been fragmented across separate systems, requiring manual intervention, disconnected banking portals, and distinct operational setups.

By integrating BMO Commercial virtual cards into participating software platforms through Mastercard's Commercial Express framework, eligible clients can execute secure payments for supplier invoices, travel, and corporate expenses without ever leaving their primary operational workflows. The framework also provides participating platforms with a standardized framework for enabling issuer-backed virtual card payments, helping reduce implementation complexity and support broader adoption across the ecosystem.

"As our Corporate Card clients digitize their operations, they expect us to integrate seamlessly into their existing workflows," said Seth Blacher, Head of TPS Product Management and Payments Modernization, BMO. "This partnership with Mastercard lets us deliver exactly that by removing the friction between finance software and payment execution, creating a more streamlined payment experience."

Driving Efficiency and Scalability for Modern Enterprise Treasury

The embedded payment model offers key advantages for corporate buyers, B2B software platforms, and commercial issuers:

• Streamlined Payment Workflows: Corporate treasury, procurement, and accounts-payable leaders can initiate, approve, and reconcile virtual card transactions directly within existing platform interfaces, accelerating invoice settlement and reducing operational complexity.
• Standardized Integration Framework: Reduces platform-to-issuer setup complexity, enabling faster rollout across the ecosystem.
• Enhanced Visibility and Control: Embedded virtual cards deliver precise controls over spending parameters, automated reconciliation data, and improved working capital efficiency.

"As businesses digitize their operations, payments must move seamlessly alongside day-to-day business activities," said Diane Miquelon, Senior Vice President, Financial Institutions Partnerships, Mastercard Canada. "By embedding Mastercard's virtual card capabilities directly into the platforms where treasury and finance teams operate, we are removing friction, enhancing payment security, and helping organizations optimize working capital management with greater control and predictability."

The capability is available in Canada and the United States for eligible BMO Corporate Card clients through participating enterprise software platforms. 

About BMO Financial Group 

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of July 31, 2026. Serving clients for more than 200 years, BMO provides a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services across Canada, the United States, and select markets globally. BMO is innovating for business value, by deploying and integrating human, digital and artificial intelligence to personalize client experiences, augment teams, and automate its business responsibly. Driven by its purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.

About Mastercard (NYSE: MA)

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.

SOURCE BMO Financial Group

Media Contacts: BMO: Anke Suwanda, Toronto, [email protected], [phone]; Mastercard: Helena Wade, Director, Communications, Mastercard, [email protected]