WorldFirst Unveils Virtual Card for Global SME Payments
WorldFirst, the cross-border payment and treasury service provider owned by Ant International, has launched a new virtual card solution aimed at small and medium-sized enterprises (SMEs) operating internationally.
The World Card, developed in partnership with Mastercard, allows businesses to make payments in more than 150 currencies across 210 countries and regions without incurring foreign exchange fees when using 15 major currencies from their WorldFirst account balance.
The solution is designed to address challenges highlighted in a Deloitte-WorldFirst report that identified high entry barriers, rising operational costs and market competition as obstacles to SMEs capitalising on the projected growth of e-commerce to US$12.9tn by 2032.
Enhanced security and management features
WorldFirst has implemented the Payment Card Industry Data Security Standard (PCI DSS) certification for the World Card, which incorporates 3DS/AVS transaction verification methods—industry protocols that authenticate cardholders during online transactions to prevent fraud.
The virtual card system will enable businesses to create multiple cards for different expense categories or teams starting later this year, with all spending trackable through a central dashboard.
The company also offers cashback rewards on eligible payments, though specific rates were not disclosed in the announcement.
Physical card and mobile wallet support planned
The World Card will expand its functionality in 2025 to include Apple Pay and Google Pay integration, allowing users to store their card credentials in mobile wallet applications for contactless payments.
WorldFirst confirmed plans to introduce a physical version of the World Card this year, which will maintain the multi-currency capabilities and security features of the digital version while adding compatibility with chip-card point-of-sale terminals for in-person transactions.
The card solution will be rolled out across markets in Asia, Europe, Oceania and Africa throughout 2025, adding to WorldFirst's current suite of services that include global payment processing, collection, foreign exchange conversion and treasury management from a single account interface.
Executive perspectives on SME payment innovation
Jane Prokop, EVP and Global Head of Small and Medium Enterprises at Mastercard, emphasises the practical benefits of the new solution.
"With the launch of the World Card, WorldFirst and Mastercard are giving ambitious businesses a smarter way to manage spending.
Today's small businesses often have global ambitions, but outdated payment processes can hold them back. The new solution offers the ease, security, and international reach they need to scale without borders.
Together, we're helping them simplify operations, stay on top of spending, and expand into new markets," says Jane.
Clara Shi, CEO of WorldFirst and vice president of Ant International, positions the card as part of a broader strategy to support SMEs in the digital economy.
"WorldFirst enables business growth by delivering solutions featuring global coverage, secure transactions and operational efficiency—essential foundations for SMEs' success in today's digital economy.
“We look forward to deepening our collaboration with Mastercard and industry leaders to pioneer innovative solutions like World Card, empowering SMEs and drive inclusive growth," says Clara.
WorldFirst, which has served over one million SMEs to date, operates as part of Ant International, a global digital payment and financial technology provider that offers a unified technology and finance platform for commerce solutions.
The World Card integration complements the existing World Account product, which WorldFirst describes as its flagship offering for businesses requiring comprehensive global financial operations management.
E-commerce growth presents both opportunities and challenges for small businesses, with the sector's compound annual growth rate (CAGR) projected at 13.65% through 2032 according to data cited by WorldFirst.
The World Card appears positioned as a response to the requirements of SMEs dealing with multiple currencies, vendors and digital platforms across international borders.
The card will support payments across common business expense categories including digital marketing on e-commerce platforms, software subscriptions, and shipping and logistics services.
The card launch represents WorldFirst's continued expansion in the global payments sector as it seeks to address the specific needs of internationally active small and medium businesses.
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