PURCHASE, N.Y. MasterCard International has introduced the MasterCard Enhanced Merchant Data Reporting System, which lets corporations and governmental agencies view all spending done on their MasterCard purchasing cards.
Cardholders who get authorization from their issuers can view individual transactions or summary reports for specific periods and use these data to fulfill 1099 and 1057 reporting requirements.
The technology is available through MasterCards Web site, and the data are delivered online in customized reports. Larger files and reports are delivered on a CD-ROM through MasterCard and its issuing financial institutions.
MasterCard developed the Enhanced Merchant Data Reporting System to address the rapidly changing needs of corporations and the public sector, said Steve Abrams, senior vice president of corporate payment solutions at MasterCard. The technology will allow decision makers to track individual merchant activity for a specific period.