You spoke, we listened! We are releasing new features available on the PEX Sites and Mobile App in March. We have two new enhancements for Administrators and one for Cardholders. This update includes a new hardware only merchant category which allows Administrators to further control cardholder spending entitlements. Also, Administrators will be able to turn cardholder negative balance emails on or off. In addition to the Administrator updates, Cardholders will have the ability to manage the security questions and answers that are used for lost password retrievals.
What is it? Hardware stores merchant category
Where is it happening? Admin Site, Mobile App
Who is it for? Property Managers, Contractors and any PEX user with building/facility maintenance spending
Merchant categories are used to enable spending for specific merchant types (category checked) or disable spending for a specific merchant type (category unchecked). Merchant categories can be enabled or disabled in the cardholder profile on the Spend rules page or used in creating Spending rulesets. This new Merchant category has been added to allow for more specific spending control – Hardware stores. This category contains all hardware related Visa merchant category codes including paints, construction materials, plumbing/HVAC equipment and industrial supplies. Enable this category to limit spending to supplies that a typical contractor, facilities manager or repairman would purchase.
Action Required? The Hardware stores merchant category will be automatically enabled for every cardholder who had Retail stores enabled at the time of the update. If you had the Retail stores merchant category enabled for any cardholder primarily to allow spending in the categories listed above, you can now disable the Retail stores category to further control spending. Make sure to go in and adjust it if you want. This was done so that no charges will be rejected and you can continue business as usual.
What is it? Security Question and Answer Changes
Where is it happening? Cardholder Site
Who is it for? All Cardholders
When a cardholder creates a login for the cardholder site, they are asked to add a security question and answer. The question and answer is used to validate the cardholder for the forget password process. Prior to this release, cardholders could not see or change the question/answer combination.
Cardholders can now edit their security question and answer from the My Profile tab on the cardholder website.
What is it? Negative balance email notifications
Where is it happening? Admin Site
Who is it for? Administrators interested in monitoring cardholder negative balance activity
Cardholder negative balance email notifications can now be turned off in the Email notifications page of My profile. Previously, negative balance emails were enabled by default and could not be turned off. By default, negative balance emails are automatically enabled for all business administrators. To turn off the email notification in admin.pexcard.com, click on your name at the top of the screen and select the Email notifications button. This feature can be useful in monitoring for fraud or misuse of cards because more often than not, a PEX Card should not have a negative balance. However, sometimes this can happen if the merchant is placing a pending hold on a card – for instance, hotels will do this to cover themselves for incidentals like room damages. If there are valid reasons for a negative balance from your users, you can turn this notification off.
Pam Matheson is PEX's Chief Product Officer. She works to define the product, implement the processing system, create key partner integrations, and establish PEX's customer service methodology. A veteran of the prepaid card industry, Pam has also worked in product development for Clarity Payment Solutions and TSYS Prepaid.