Enhancement 1: Custom Merchant Categories
Admins will now be able to create custom merchant categories, using the exact combination of MCCs (Visa merchant category codes), to further limit where cardholders can spend. These custom merchant categories can be used in Spending Rulesets or individual cardholder Spend Rules.
This feature allows you to further control unauthorized transactions by limiting spending to a single or small number of MCCs, rather than assigning a standard merchant category that can include dozens or even hundreds of MCCs.
For example, you may want to assign a spending control to cards that limits the cardholder to fuel, parking and tolls. The associated MCCs are included in 3 standard PEX Merchant Categories today: Fuel Pumps, Gas/Convenience Stores and Travel/Transportation. Enabling all 3 of these allows the user to spend at over 600 different types of merchants. This could result in unexpected purchases like a hotel or airfare being approved.
By creating a custom merchant category using only applicable Visa MCCs (e g 7523 Automobile Parking Lots and Garages, 4784 Tolls, Road and Bridge Fees, 5542 Automated Fuel Dispensers) and then using it in a new Spending ruleset, your expense policy becomes easier to enforce.