processing platform
MasterCard has unveiled plans to develop MasterCard inControl, a
card payments processing platform that will feature an array of
authorisation, transaction routing and alert controls. The task of
developing the platform has been assigned to Orbiscom, an Irish
payments technology developer.
Go deeper with GlobalData
The platform will address the problem card issuers face in
providing transaction controls their cardholders want, explained
MasterCard Worldwide’s chief product officer, Wendy Murdock. She
added that card issuers have limited options to meet cardholder
requirements and have relied on building in-house solutions, which
tend to be costly and have a lengthy lead-time to market.
“With MasterCard inControl, MasterCard will host a service that
provides robust, customisable and scalable features,” continued
Murdock. ”For issuers, MasterCard inControl offers an innovative
way to address cardholders’ needs while also lowering risk and
increasing speed to market.”
New features
According to MasterCard, the platform will provide issuers with
off-the-shelf solutions as well as create customised offerings to
meet specific customer needs. New features issuers will have at
their disposal include:
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData• enhanced authorisation controls that direct how, when and where
cards may be used, to a greater level of specificity than
previously supported;
• intelligent routing capability that enables transactions to be
routed to the appropriate funding source at authorisation
time;
• alert functionality that provides real-time information on
transaction activities; and
• a one-time use number feature that allows authorisation, spending
limits and usability controls to be set on a
transaction-by-transaction basis.
For corporations, the platform will address “a myriad of needs”,
said MasterCard Worldwide’s global group executive, Steve Abrams.
He said: “It will help them reduce maverick spend and fraud while
improving compliance with corporate policies and simplifying
accounting.”
