One of the things that credit cardholders complain about having plastic is that they sometimes get out of control when they shop, dine out, or go abroad. When there’s a sale, more often than not, you buy things you don’t need that they end up at the back of your closet; when there’s a new restaurant or a happening bar, you tend to overspend on dining out when you could very well cook and eat at home.
Or what about your supplementary cardholders — your spouse, your kids? The same out-of-control spending happens. And what if you choose to give supplementary cards to your driver and maid so that they don’t have to carry cash or you don’t have to accompany them when getting gas or groceries?
PNB-Allied Bank has the solution to put you back in control over your own card and your supplementary cards. Called the PNB-Allied Bank MasterCard inControl, it is an online facility that lets cardholders do their own customized spending controls and alert functions without having to call the bank.
They can do this online, anytime, anywhere. This means that at any time of the day, anywhere in the world, and for whatever reason, the cardholder can revise, adjust, block, allow transactions, based on time, category, location, and a lot more.
“PNB-Allied Bank MasterCard inControl spending controls are further classified into four categories: usage controls, merchant controls, country settings and time of day controls,” explains Fol Rana, Jr., senior vice president and head of the Allied Bank credit card department. “PNB-Allied Bank MasterCard inControl is not limited to sending alerts. This is what makes it different from what other card companies offer. MasterCard inControl is a complete solution that allows one to manage one’s credit card account, including supplementary cards. Sending of alerts is just a portion of the entire facility.”
Usage controls allow cardholders to set limits for their daily, weekly, monthly, quarterly and yearly transaction amount spending. Sometimes you’re within your budget but actually in the first three months alone of the year, you have already spent your budget for the whole year! This is effective in tracking expenses and enables cardholders to stay within budget. For instance, you give your driver a supplementary card, you can set a budget for fuel for only P5,000 a week.
Merchant controls enable cardholders to set amount limits on daily, weekly, monthly, quarterly and yearly budgets per merchant category (the driver is only allowed to use the card to gas up based on your specified budget. Once your spending control setting is reached, an alert notification is sent.).
Country settings promote additional peace of mind as one can restrict usage of card within a specified country (you can set the usage of the card in the Philippines only. In the event card is used for fuel in another country, it will be declined).
Time of day control lets cardholders confine usage within a specified time of the day (driver is only allowed to gas up from 9 a.m. to 12 noon) and day of the week (like Mondays to Fridays because the driver does not report for work on weekends so there’s no need for the card).
“MasterCard inControl’s alert function is not limited to sending and receiving alerts,” says Rana. “It also allows cardholders to customize or define alert functions, whether they want to receive SMS and/or e-mail, and at the same time decline specific transactions (allow transaction with SMS/e-mail alert or decline transaction with or without SMS/e-mail alert). Alerts are sent a few seconds after transactions are made.
Cardholders can review their transactions and the alerts they receive via the reports tab of the MasterCard inControl facility. Rana says most cardholders have enrolled in both e-mail and SMS alerts as e-mail alerts enable them to store and print the alerts. It also allows them to review alerts at the end of the day or for a certain period of time. SMS alerts, on the other hand, allow them to immediately receive alerts.
Rana adds, “The PNB-Allied Bank MasterCard inControl is versatile such that it is ideal for use by any credit cardholder. It’s a perfect solution for those who want additional security, those who want to monitor transactions, and those who want additional peace of mind. It’s suited for everyone who wants to take control and be on top of their spending, whether it be for monitoring purposes only or for security.”
The PNB-Allied MasterCard inControl is ideal for families or parents who have extended credit cards for their children, as they can now control and monitor their children’s credit limit and spending anytime. It’s ideal for parents and guardians who wish to start entrusting and empowering their children by extending to them supplementary cards. This becomes a tool for them to teach budgeting and financial responsibility.
This means no more overspending at clubs when the kids go out to have some fun. No more overspending for you when you’re abroad. No more overspending for the maid when she goes out on her weekly supermarket trip for the family.
“MasterCard inControl’s revolutionary features are definitely a boon to families who want more out of their payment cards,” says Vincent Patru, VP for Emerging Payments, MasterCard Worldwide. Patru flew into town from Singapore to present the unique features of MasterCard inControl and share his personal experiences using the service.
Poch Villa-Real, country manager, MasterCard Philippines said, “MasterCard inControl reflects our focus on using the latest technology, consumer trends and our global network to provide unparalleled card functionality. With MasterCard inControl, we empower cardholders to efficiently manage their finances and give them a clearer picture of their spending behavior.”
What if you’re a single cardholder and will not issue supplementary cards to anyone? Rana explains, “Single users still get the same benefits: they can set spending limits on their card for budget monitoring purposes. If their yearly target spending for electronics is P100,000 for the year, then they can set to receive an alert or to have the succeeding ‘electronics’ transactions be declined once P100,000 is reached. For additional peace of mind, they can set a time of day controls (card can be used only on weekends.”)
Another important feature of PNB-Allied Bank MasterCard inControl is the Internet card number. This feature enables cardholders to create Internet or virtual card numbers that they can use to transact online on demand! With this, cardholders do not need to expose their real card numbers online, rather, they can create several Internet credit card numbers for free whenever they need to make online purchases.
Internet card numbers may also be edited to reflect cardholders’ desired validity period — for instance, good for one day only or good for three months — and credit limit. It can also be renamed for easy identification or reference.
This feature is a very useful tool for those who frequently purchase things — whether books or clothing, airline tickets or hotel bookings — online. It adds additional security and peace of mind as one can monitor and set limits on the card in real time and online. “One can even create an Internet card number for each and every transaction he makes, if that’s the kind of security he requires.”
As you’re spending, points are earned for card transactions regardless if one is enrolled in the PNB-Allied Bank MasterCard inControl Facility. Depending on card type, cardholders may redeem for miles which can be exchanged for free trips or redeem for cash credits. Points may also be used to waive annual fees.
PNB-Allied Bank’s inControl facility is not just for your own peace of mind — that your card is secure at all times because of the controls you have set for it — but also about disciplining yourself and living within your means. After all, you should be in control of your credit card, not the other way around.