Citizens Financial Group Inc. said Wednesday that it will offer its commercial card customers a spending control service from MasterCard Inc., the banking company said Wednesday.
MasterCard's inControl will allow business customers of the Royal Bank of Scotland Group PLC subsidiary to set parameters for how employees can use their cards, such as through spending limits, locations and transaction types. The service also allows a client to receive e-mail and text alerts on spending activity and create limited-use virtual card numbers for specific purposes.
The service "answers our customers' requirements for high security, improved control and greater cost efficiency for their commercial card accounts," Ellen Alemany, Citizens' chairman and chief executive, said in an e-mail.
Citizens plans to begin offering inControl to its business customers in the second quarter.
MasterCard has been offering inControl since 2007. An executive for the Purchase, N.Y., card network said recently that Citigroup Inc. and JPMorgan Chase & Co. were offering the service to their commercial customers.
