Control of Credit Card Use

A payment technology company has come up with a system that allows financial institutions to offer their credit card customers control over who uses a family credit card and how they use it.

Orbiscom developed the system, which allows a master cardholder to have a single account that is usable by other family members. The master cardholder sets limits for each user and can put controls on where the card can be used and how much can be used for what purpose. Each cardholder has his or her own credit card number so if a card is lost or stolen, the whole set of cards does not have to be replaced. Cardholders also receive individualized credit card statements.

Copyright © 2003 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 13, No. 7, 10/03