Citi and MasterCard Worldwide will implement the first ever consumer application in the US of MasterCard inControl in late 2010.
The service provides cardholders with the ability to monitor their spending by receiving real-time information about their accounts, allows them to set spending limits and ensures card security through alerts regarding attempted purchases.
“We believe that MasterCard incontrol will help enhance our cardholders’ experience, through increased transparency, greater spending confidence, and more secure and efficient financial management,” said Ed Garofalo, Executive Vice President of Citi cards.
Customers will be able to establish when they receive alerts and whether they are in SMS or email format to allow real-time alerts for improved security.
The inControl service also allows cardholders to manage where their credit cards are used and the user can outline what types of purchases the card can make.
The service will be available to Citi MasterCard credit card customers from late 2010.