CSI’s Secure Solution For Card-Not-Present Transactions
What’s the easiest way to protect your business’ card information?
Don’t give it out to a third party in the first place.
That’s the essential strategy behind CSI and their globalVCard product: an application that generates virtual card numbers for limited use, protecting real card information while still enabling a wide range of transactions.
PYMNTS.com spoke with David Disque, senior vice president of operations, and Jason Kolbenheyer, senior product developer for CSI Enterprises, to discuss the globalVCard, learn about the company’s plans for PYMNTS.com’s Innovation Project and discuss why preventing fraud is of paramount importance in today’s payments environment.
CSI is a company that has enabled B2B corporate payment solutions both domestically and internationally for over 24 years. They offer a wide variety of card-based solutions, but their flagship product, the globalVCard, is the type of innovative tool that Disque and Kolbenheyer believe can have a big impact on the industry.
According to Kolbenheyer, the globalVCard’s usefulness is derived both from its secure and transactional capabilities, as well as the value-added functions that come with the application.
“The globalVCard application is a patent-pending mobile and web application, and it facilitates the creation of these secure and controlled virtual credit card numbers,” Kolbenheyer explained. “The globalVCard enables users to determine how much their card is authorized for, how many times it can be used, where it can be used, who the cardholder’s name is, and when it will expire. And we can attach important data to these cards, like photos of invoices and receipts, PO numbers, notes and more.”
Disque added that the globalVCard can also be generated for someone else and assigned a specific purpose, effectively eliminating the need to expense items or engage in a redemption process.
“I can deliver an image of a card to you to purchase an airline ticket, specifically, and once you make that transaction, that card is no longer available or acceptable,” Disque said.
While the convenience such a tool offers is obvious, both Disque and Kolbenheyer agreed that where the globalVCard is perhaps most useful is in its ability to prevent and combat fraud. As cyber attacks become more prevalent and the fees associated with card-not-present fraud undefined, a product that solves both problems can be of tremendous value to businesses and retailers alike.
“The Cardholder has peace of mind: they’re going to be more apt to make purchases online or provide that information over the phone or the internet knowing that they have a more secure transaction than giving out their physical plastic,” Disque said.
“And I also think that for the industry itself, it brings a great value, because if you look at the amount of fraud and the cost to the industry for fraudulent card transactions, this is a step in the direction of minimizing that risk of a fraudulent transaction ever occurring on a cardholder’s account.”
To hear more Disque and Kolbenheyer on CSI’s solutions and upcoming designs, plus their Innovation Project plans, listen to the full podcast below.
*If you have trouble with the audio player above, click here.
SVP/Director Operations for CSI Enterprises, Inc.
Mr. Disque has worked as Vice President of Operations for CSI Enterprises, Inc. since early 2001. His diverse skill set has lent to the development of key corporate payment offerings and client service initiatives for all of CSI’s business operations. In addition, Mr. Disque has been Instrumental in the developmentof the globalVCard paysystems for Accounts Payable which has become CSI’s growth engine in leading the company to new heights market penetration and transaction spend volumes. David’s vast experience has allowed him to deliver numerous presentations on corporate payments and electronic payables topics as well as being actively involved in the innovative programming and development of CSI’s electronic accounts payable and GlobalVCard Paysystems initiatives.
Senior Product Director for CSI Enterprises, Inc.
Jason Kolbenheyer’s 13 years of experience includes a strong combination of design, operations, project management and client management, with a demonstrated record of generating significant results for clients. Mediums include: Web, Mobile & Television. At the age of 22 Jason founded his first company, WaxDigital, a NYC based interactive agency. There Jason was responsible for acquiring & managing clients, creative direction, managing designers, programmers and a sales team. Jason’s work added such clients as Universal Records, Universal Pictures, Artista Records, Citigroup, American Express and Aetna to Waxdigital’s portfolio. The Citibank campaign is particularly noteworthy, Citigroup placed the largest media buy in web history. Jason is now the Senior Product director for CSI Enterprises Inc., a leader in innovative financial solutions for enterprises and businesses. While at CSI, Jason has developed the globalVCard™ product suite to include a cutting edge web application that eliminates the pain point in processing b2b payments and an innovative mobile application that facilitates the creation of secure single-use card account numbers on the go.