Credit cards aren’t always just for personal use. Many businesses use them as well as a way to more easily track spending and give flexibility to how employees make purchases on the business’ behalf. For the small business owner on a tight budget and with specific needs, this can be a real worry, however, as those credit cards can quickly become a liability.
With MasterCard’s new program called inControl, that becomes less of a problem for those businesses. Citizens Financial Group is the first credit card issuer in the U.S. to begin offering inControl on their commercial credit cards. This system allows a sort of mashup between credit card monitoring and the best online banking has to offer. The system allows business owners or managers to set limits on individual employee credit cards, look at real-time usage and other information, and track how purchases are being made. It allows even more finite control, as needed, to even put limits on where the card can (or can’t) be used and even track and set limits on spending based on what it’s for.
So a sales manager, for instance, could limit the discretionary spending of his sales force while allowing higher limits for things like gasoline and service on company vehicles. Other, more advanced and up-to-the-minute technologies like the best internet banking services have, such as text or email alerts and mobile access, are also included. Even limited-use, virtual card numbers for online purchases and similar needs can be created using inControl. This is an innovative and interesting new offer that is exclusively to Citizens MasterCard commercial accounts. For small business owners, this really does put the boss inControl.