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Mastercard is planning to introduce a corporate card through which employers can set a limit on expenditures as well set up locations where the card can be used (Check the Businessweek story here ).
This incontrol Card represents a great opportunity for Healthcare Insurance companies that provide it's members with Cards to be used at Pharmacies(Humana provides a card for its Spending Account Members). In the current scenario, if the member misuses the card and uses to refuel his car or something other than what he qualifies. The Insurance company needs to reject this swipe or adjust in future claims for the member.
With the Mastercard inControl, the Insurance provider can program where the card can be used and for what it can used for. This can result in significant savings by saving all the effort that is required once a bad purchase has been made.
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