MasterCard Worldwide has selected Citi to implement MasterCard inControl, a tool set to provide credit cardholders with the ability to establish customized spend management and receive information about their accounts.

The new service will enable Citi customers to set up and manage spend-limits, set up budgets for certain types of spending and manage them according to their needs, as well as receive account alerts regarding overspending or attempted card activity.

MasterCard’s inControl service will be offered to cardholders of participating Citi- MasterCard credit cards in late 2010.