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MasterCard Inc. today announced the acquisition of Dublin, Ireland-based software developer Orbiscom Ltd., which collaborates with MasterCard on software to control consumer credit, debit and commercial card products. MasterCard began working with Orbiscom in September 2007 when it unveiled MasterCard inControl, a technology platform enabling companies to control and monitor business-to-business card transactions (CardLine, 9/11/07). Royal Bank of Scotland last year became the first financial institution to offer MasterCard inControl to its commercial card customers. InControl helps companies prevent internal commercial card fraud by directing how, when and where payment cards may be used–including for one-time purchases–and by sending alerts when transactions occur. MasterCard hopes to persuade banks to market inControl to small businesses and consumers, Steve Abrams, MasterCard group executive of commercial products, tells CardLine. "It's economically feasible that card issuers could offer inControl to consumers who might use it to control and monitor an entire family's credit card spending," he says. A portion of the $100 million deal hinges upon Orbiscom's future performance. Orbiscom has previously marketed a variety of technologies to fight card fraud, including single-use credit card numbers for online shopping and "virtual" credit cards; past clients include Citigroup Inc. and Discover Financial Services.
