Mobile Wallets and Virtual Cards Give B2B Payments Digital Makeover

It’s about time for B2B firms to ensure their payment processes align with the digital expectations of the next generation of decision-makers.

The latest PYMNTS Intelligence in the March 2025 “Business Payments Tracker®” series reveals that in a push to modernize business payments and mirror the seamless experience consumers enjoy, companies are merging virtual cards with mobile wallets. This tech-forward combo, the report found, can help give businesses tighter control over spending while simultaneously offering the kind of convenience, speed and flexibility that’s redefining B2B transactions in the digital age.

Crucially, this convergence of virtual card technology and mobile wallet functionality signals a shift, moving B2B payments from slow, manual processes to seamless, real-time solutions. For businesses grappling with supply chain pressures, remote operations, and rising expectations for transparency, this integration is more than just a technological upgrade: it’s a strategic imperative.

That’s because embracing this evolution signals reflects a willingness to innovate at the intersection of finance and technology by turning a once-tedious back-office function into a strategic enabler of growth.

Mobile Wallet Moment in B2B

While mobile wallets like Apple Pay and Google Wallet are already deeply embedded in the consumer ecosystem, their role in the B2B space has been comparatively underdeveloped. Historically, B2B payments have lagged behind in digital adoption, hamstrung by legacy systems, complex approval hierarchies, and entrenched habits like writing checks or initiating bank wires.

But this is changing. Virtual cards, which are unique, single-use or limited-use card numbers issued for specific transactions, are now being paired with mobile wallet platforms to empower employees to make controlled, trackable payments directly from their smartphones. This functionality eliminates the need for plastic corporate cards or manual expense reports and brings a new level of flexibility to B2B transactions.

The fusion of mobile wallets and virtual cards addresses three persistent pain points in B2B payments: speed, control and security.

Speed is perhaps the most obvious benefit. Traditional accounts payable processes can take days — or even weeks — from invoice approval to payment settlement. By contrast, virtual cards issued through mobile wallets can be generated and used instantly, expediting payment cycles and improving cash flow for both buyers and suppliers.

Control is equally compelling. Finance teams can predefine the use of each virtual card by setting spending limits, expiration dates and merchant categories. These parameters help organizations mitigate fraud, enforce policy compliance, and simplify reconciliation. For mobile wallets, the real-time nature of notifications and transaction tracking allows for immediate visibility into spend patterns and exceptions.

Then there’s security. Virtual cards reduce the risk of fraud compared to physical cards or bank transfers. Each card number is ephemeral, often valid for a single transaction, which limits exposure in case of compromise. When integrated into mobile wallets, these cards benefit from the additional security layers of biometric authentication, tokenization and encrypted storage.

Read also: How Mobile Corporate Cards Stand to Transform B2B Payments

The versatility of mobile virtual card payments makes them attractive across a broad range of industries. In construction, field teams can quickly procure materials without waiting for head office approval. In media production, mobile wallets simplify travel and on-site expenses for fast-moving crews. Even professional services firms are using the technology to streamline client-specific project budgets.

At the same time, the technology proves beneficial in crisis response scenarios, such as natural disasters or emergency procurement, where speed and flexibility are paramount. By issuing virtual cards directly to mobile wallets, organizations can empower field personnel to act immediately, without compromising financial oversight.

The integration of mobile wallets into corporate finance workflows also reflects broader demographic shifts. As millennials and Gen Z professionals assume greater responsibility in procurement and budget management, their expectations around payment experiences are influencing enterprise standards. These digital-native employees expect the same frictionless, mobile-first tools in the workplace that they use in their personal lives.

Ultimately, integrating mobile wallets with virtual card capabilities isn’t just about digitizing a single process: it’s about enabling enterprise agility. In a world where business conditions can shift overnight, the ability to authorize, issue and reconcile payments instantly gives companies a crucial edge.

The post Mobile Wallets and Virtual Cards Give B2B Payments Digital Makeover appeared first on PYMNTS.com.