MasterCard’s New Tool to Manage Expenses in Real-Time
- Citizens Bank and MasterCard partnered to propose access to advanced expenses management tools designed for business customers providing payment cards to their employees, through MasterCard InControl technology.
- The company can for instance:
- Set budgetary limits for some kinds of expenses,
- Know where, when, how the card was used and what for,
- Receive real-time information on credits and debits performed on the bank account (purchases or purchases attempts),
- Decide how (SMS, e-mail, etc.) and when to receive these alerts.
- MasterCard InControl provides the companies with budget management tools and responds to their needs in terms of security, monitoring, time saving and profitability. Development of these kinds of technologies applied to SMEs is rather new as these services used to be proposed to large companies only.
- MasterCard and Citizens Bank should soon launch InControl (second quarter 2011). This bank then becomes the first issuer of business credit cards embedding this technology in the US.