MasterCard cardholders in the Asia Pacific region are now able to better manage their spending and budgeting with the company's new inControl payment platform.
The platform, which is powered by VisionPLUS by payment technology and services provider First Data, enables cardholders to set spending limits on their accounts and manage how, when and where they use their card online. Besides that, it offers security features such as dynamic virtual card numbers to help reduce potential losses resulting from stolen credit card numbers, as well as real-time alerts of each transaction to prevent fraudulent card use.
In a press release, MasterCard said that inControl will support business to consumer (B2C) e-commerce spending in the region, which market research company eMarketer projects will reach US$525.2 billion by the end of this year. Banks are poised to benefit from the new platform too. "For banks, inControl will support new account growth, increase card usage, and protect them against e-commerce fraud," said Marc Mathenz, senior vice president and head of First Data's Asia Pacific region.