HR: controlling spending on corporate payment cards

Citizens Financial Group and MasterCard Worldwide have announced an agreement to offer MasterCard inControl to Citizens' commercial card customers.

Apparently, the technology is "ground-breaking" because it "gives business owners the ability to easily set spending controls on the cards issued to their employees and receive real-time information about their accounts, including purchases made or attempted by their employees."

OK, so real-time access to spending is not common, but setting limits - even daily limits - is not new, surely?

"To underscore our commitment to innovation, we are very pleased to be the first bank in the country to offer MasterCard's inControl to our business customers," said Ellen Alemany, Chairman and CEO of Citizens.

"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," said Michael Fiore, Group Head, inControl, MasterCard Worldwide.

With MasterCard's inControl, Citizens' 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.* Set up spend limits and budgets for particular types of spending.* 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.* 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.