Dubai-based Mashreq Bank has added a new service to its mobile banking app and contactless payment service that allow users to track spending on both credit and debit cards.
The Mashreq Card Control function, integrated with the bank's Snapp mobile banking app and the Tap n Go wallet, enables users to lock, block, limit, manage daily purchases and set maximum transaction amount.
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It will also offer cardholders to have an insight into spending and activities on cards, including supplementary cards issued on the same account.
Mashreq head of retail banking group Subroto Som said: "At Mashreq, innovation is in our DNA and we continue to raise the bar to offer simplified banking to our customers.
“The new Snapp functionalities are part of a continuous journey of innovation at Mashreq and our customers can look forward to many more path-breaking innovations in the coming months.
“In the past, customers didn't have control over their cards, specifically the spending limits on the supplementary cards they give to their family.
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By GlobalData“The new Card Control feature will address these concerns – customers can simply open Snapp, and instantly lock their misplaced card, and unlock it once it is found.”
