The bank said with MasterCard’s inControl, its business customers will be able to set up and manage exactly where, when, how and for what types of purchases their employees’ cards may be used.
They can set up spend limits and budgets for particular types of spending as well as establish how and when they receive alerts, via text and/or e-mail, to safeguard against overspending and keep them informed in real time about attempted card activity by its employees.
The business customers will also be able to create limited use, virtual card numbers so that spending controls can be set for individual transactions or recurring use, providing enhanced levels of security and convenience as the business owners real account number is never revealed to the employee or merchant.
Citizens chairman and CEO Ellen Alemany said that this breakthrough spend-management service answers the customers’ requirements for high security, improved control and greater cost efficiency for their commercial card accounts.
MasterCard inControl group head Michael Fiore said that this inaugural implementation of MasterCard inControl for small business cardholders will enable business owners to have greater control and visibility over their card spending than ever before.
Citizens said it expects the inControl functionality to be available to its commercial card customers during the second quarter of 2011.
