News Release

 Back  
 
Contacts
Joanne Trout MasterCard Worldwide 914-249-6644

MasterCard inControl Service Now Available from Barclaycard

MasterCard inControl Facilitating Active Role for Consumers in Managing their Finances

Purchase, NY, January 21, 2010 - Barclaycard and MasterCard Worldwide have announced that Barclaycard will now offer the option of MasterCard® inControlfunctionality – an innovative service that gives cardholders the ability to set spending controls and receive real-time information about their accounts.

The new functionality provided by MasterCard inControl enables Barclaycard to provide a service which allows them to give customers more control and peace of mind when using their Barclaycard. Customers can go online and set personalized controls and spend budgets, with SMS alerts or emails instantly sent to tell the customer when they have reached a budget or control set on their credit card. Controls can be set to trigger an alerts or a block on transactions made online or abroad.

“Personal security and the ability to keep a tab on your spending is top of mind for our customers,” said Chris Wood, Managing Director, Barclaycard UK Foundation & Partnerships. “With inControl, we are able to utilize MasterCard’s advanced network technology and capabilities to fulfill the demand from cardholders for ever more convenient ways to pay and manage their spending, with added security that you expect from Barclaycard.”

“At MasterCard, we are focused on leveraging new technologies and our flexible, intelligent global network to provide solutions that give power to the people as they navigate today’s new financial realities,” said Josh Peirez, Head of Innovative Platforms, MasterCard Worldwide. “The launch of this service from Barclaycard is clear demonstration of the growing trend by financial institutions to offer smart cardholder services that put financial control back into cardholders’ hands and we are excited to be working with them to both implement the first consumer application of our inControl service and harness its value for their customers.”

inControl Functionality for Consumer Products
The MasterCard inControl service allows issuers to select which MasterCard controls and alerts to quickly, easily and cost-effectively integrate into new or existing debit, credit, prepaid, PayPass and mobile payment products. This functionality not only helps issuers provide better service and grow loyalty among their cardholders, but can also extend card programs into new payment categories. With MasterCard inControl, cardholders can:
  • Set budgets for particular types of spending and manage exactly where, when, how, and for what types of purchases each payment card linked to their accounts may be used.
  • Establish their own system of alerts to safeguard against overspending and keep them informed in real-time about attempted card activity.
  • Obtain single (or limited) use virtual card numbers linked to their accounts providing increased security and control when shopping online.
The wide array of controls that issuers can offer both empower consumers and give them greater peace of mind with the knowledge that their cards cannot be used for transactions that they would not approve. A simple Web-based interface is used for setting up and managing the limits and alert triggers. The inControl service also gives banks the option to either immediately decline transactions that are not approved due to the assigned limits or request secondary authorization via an instant SMS message to ask the cardholder to personally approve the payment.

About MasterCard® inControl
MasterCard inControl is an innovative, flexible service which enables issuers to easily introduce payment products that offer unparalleled controls and alerts to both consumer and commercial cardholders. The suite of inControl offerings satisfies strong end-user needs for high security and controlled access to spending accounts, while providing cost-efficiencies and speed-to-market for issuers and no need for any changes in the payment process at the merchant.

About Barclaycard
Barclaycard, part of Barclays Global and Retail Banking division, is a leading global payment business which understands the needs of both purchasers and sellers. It enables retailers and merchants to accept cards, helps customers make payments through card, contactless and mobile applications as well as extending credit to consumers. The company is one of the pioneers of new forms of payments and is at the forefront of developing viable contactless and mobile payment schemes for today and cutting edge forms of payment for the future. It also issues credit and charge cards to corporate customers and the UK Government. Barclaycard partners with a wide range of organisations across the globe to offer their customers or members payment options and credit. In addition to the UK, Barclaycard operates in the United States, Europe, Africa and the Middle and Far East.

Key facts published in August 2009;
- number of UK customers: 11.9m
- number of International customers: 11.8m
- number of retailer/merchant relationships: 88,000.

About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com. Follow us on Twitter:@mastercardnews.