Payment processor, i2c, Inc. has announced the enhancement of multi-purse features of its global payments platform, MCP on March 26, 2013 in Redwood City, California.
The feature will allow consumers to save, spend and transfer funds by using multiple purses or sub-accounts, from within one account. The key benefit of this enhancement to consumers will be better financial management by enabling them to set a budget, activate controls to lock down spending limits and receive real-time alerts to stay within their budget. Interestingly, consumers can also assign a financial mentor or buddy to keep them on track.
The new features move today’s post spending analysis into actionable, real-time budgeting. The features are powered by MCP’s integrated multi-purse technology, which was first introduced to the platform in 2003 to enable more complex financial services such as mobile wallets, linked savings accounts and companion accounts.
i2c’s Vice President, Product Marketing, Patricia McPeak commented on the occasion, “Showing consumers what they spent their money on after they have already spent it does little to support taking actionable steps towards financial responsibility. The budgeting features we have introduced to MCP are revolutionary because they provide up-front budgeting tools as well as on-going, real-time guidance that encourages consumers to stay on budget and attain their financial goals.”
“These budgeting innovations will be invaluable to banks and financial services providers that seek to give their customers tools to manage their money more successfully – something consumers of all income levels need and want.”