RBS Implements MasterCard's InControl Platform

MasterCard inControl builds on MasterCard's unparalleled global processing platform and combines enhanced authorization controls with an intelligent routing capability and personalized real-time communication features including alert functions, for both Commercial and Consumer products. The Royal Bank of Scotland will be the first in the world to leverage the new payment platform's purchase control module to provide advanced functionalities for their corporate customers, including multi-national corporations so they can better manage, analyze and control procurement expenditures.

RBS will be marketing the purchase control solution to their customers as "Approval to Buy;" the new offering is the result of a year-long collaboration between the two parties. Initially, RBS will be offering "Approval to Buy" to corporate customers in the UK, enabling them to streamline and automate their purchasing and accounts payable processes while keeping full control on how company money is spent. "Approval to Buy" will be able to generate unique purchasing card numbers for defined, one-off purchases within a particular timeframe, such as a period of days. For example, a virtual card can be made operational for staff members who need to make miscellaneous purchases or who are not at a level of authority to own a corporate card.

Steve Abrams, Global Group Executive, Commercial Products, MasterCard Worldwide commented: "With the first live transactions going through the MasterCard inControl platform, RBS' corporate customers will soon see the tangible benefits of more transparency and better control over their spend. By leveraging the purchase control module within the broad capabilities of MasterCard inControl, RBS takes advantage of our multi-faceted and innovative solution to better meet the needs of their customers."

Raghav Prasad, Head of Commercial Cards at RBS, said, "We identified there was customer demand for transaction controls that can be tailored to individual staff and business requirements. We wanted to offer customers the flexibility to undertake transactions within parameters reflecting the specific needs of their business. With MasterCard inControl, we were able to utilize the advanced controls and flexible functionality to design our 'Approval to Buy' solution which is tailored to meet our customer needs."

RBS will be working with their customers to set-up the appropriate software so that each purchase can be duly authorized through internal control and procedures. The unique card number provides corporations with convenience and security for all purchases, including those made through e-commerce, mail order and telephone. Additionally, companies can more easily reconcile their expenses to ensure all corporate spending can be analyzed and properly accounted for.

Jorn Lambert, Group Head of Commercial & Consumer Products, MasterCard Europe indicated, "RBS recognizes the value and flexibility that MasterCard inControl allows them to provide to its customers and we are delighted to have RBS be the first issuer to implement the innovative platform. We have worked closely with them for many years to help grow their commercial card portfolio. Now, with the implementation of MasterCard inControl, we believe RBS brings change to this industry by addressing fundamental customer needs with a range of business-forward solutions."

RBS' "Approval to Buy" solution will be offered to customers in the UK during the next 12 months. It will be brought to additional geographies, tailored to specific customer needs shortly thereafter.