MasterCard In Control for Cardholder Security

Advancing Control. Advancing Commerce.

When it comes to their personal finances, consumers of all ages are looking for ways to feel more in charge. With MasterCard In ControlTM for Cardholder Security, they can ensure their card accounts are protected and easily manage their expenses.

By allowing cardholders to create their own spending rules and receive alerts when card usage exceeds those limits, MasterCard In Control for Cardholder Security provides them with greater account security, as well as valuable budgeting assistance.

Empowering Cardholders to Spend With Confidence

It’s no secret that cardholders are increasingly scrutinizing their finances today. In a recent survey, over 70 percent indicated that they were paying closer attention to such matters than they were just a year earlier1. Besides pressures related to recent economic turmoil, concerns about the potential for fraud have left many feeling anxious about the safety of their accounts.

Those issues are precisely why In Control for Cardholder Security is such a valuable innovation for financial institutions to offer their cardholders. It enables those cardholders to establish custom controls that govern when, where and how their credit, debit or pre-paid cards can be used. Anytime transactions occur outside those parameters — for instance, in an unauthorized country, or involving an unapproved activity, such as gambling — cardholders receive real-time alerts via email or text message. They can even elect to have those transactions be automatically declined.

Beyond protecting cardholders against unauthorized card usage, In Control for Cardholder Security can also work as an important budgeting solution. For example, consumers can request to receive alerts whenever their own spending surpasses the rules they have established according to criteria such as:

  • Purchases by merchant category (i.e., dining and restaurants, groceries and gas)
  • Purchases by transaction type (i.e., online, retail)
  • Purchases over a specific time period (i.e., week, month, quarter, year)

Benefits to Financial Institutions

Like the other offerings that are part of MasterCard’s suite of In Control solutions, the Cardholder Security application carries the potential to drive significant revenue growth for financial institutions that make it available. Its budgeting capability and security features can be expected to attract new customers and promote an issuer’s credit and debit cards to top-of-wallet status. This is born out by MasterCard research that revealed the following:

  • Over half the cardholders surveyed felt that In Control security controls would help them "feel safe and secure using their card."2
  • Nearly half felt an In Control-powered budgeting tool would help them "control their spending."

In short, In Control for Cardholder Security can provide cardholders with peace of mind when using their cards. They gain more control over spending, as well as help in adhering to budgets and support in meeting their financial goals…and this means that they will prefer your card to others in their wallet and will increase their share-of-spend with you.

(1) Payment News, 2009
(2) MasterCard research, 2009

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