CSI Sheds Light On B2B Payments

Business-to-business payments don’t often get as much attention as their consumer counterparts, but they remain an essential part of any company’s internal operations. How does mobile figure to impact the future of B2B payments, and why are companies even more concerned with security than are average consumers? CSI’s Mark Miles, President of CSI subsidiary globalVCard, takes us inside the world of B2B transactions.

PYMNTS.COM: We talk a lot about mobile consumer payments on the site, but mobile business payments don’t get quite as much press. Are there any stats or trends you can share with us that demonstrate growth in this area?

Miles: CSI has seen a significant, increased interest in our mobile globaVCard app. Our technology allows businesses to make safe and secure payments from any mobile device. As recent studies have shown us, more and more people are turning to their mobile product, and away from traditional computer use. What that means for the industry as a whole, is more interest in marketing to the mobile user. As an extension of that, more businesses have shown us an increased interest in B2B payments. Naturally, we see ourselves at the top of the industry when it comes to sending payments on a mobile device, and we are constantly seeking innovative ways to push the envelope in the most secure manner. CSI is a company built on the strong pillars of financial security, but invigorated with a modernized approach and attitude. That approach is certainly reflected in our mobile product.

What’s a key difference between business and consumer payments that might not be apparent to the average consumer?

Consumers view mobile payments as a new and convenient way to make everyday tasks easier. Businesses, on the other hand, are far more concerned with security and control. They seek a product that can revolutionize the way they carry out their day, but also ease their mind when it comes to protecting their information. globalVCard offers ease of use and flexibility, but also acts as a gatekeeper to reduce the chance of compromised information or fraud. One of the biggest challenges any payment provider has is convincing the user that it is as secure as other methods. We have been able to meet that challenge with the development of globalVCard.

Is there a difference in the level or type of risk businesses face when transacting as compared to consumers? Are they targeted more, or do they have even more to lose?

Obviously a main concern for a consumer is what happens to a phone or device if it is hacked or lost? What would happen to any data that might be accessed? Businesses have that same level of concern, but on a much larger scale and with much more at risk. Recent events have shown us that there is a larger target on the backs of companies and high-profile individuals. Our product is marketed as a deterrent to malicious activity, and has the technology to back it up. We want our clients to harness the purchasing power they need, but to be able to sleep well at night. Security is what will define the B2B mobile payments industry, as we push into the next decade.

We’ve talked about your globalVcard before in general terms, but talk about what it can do to help protect business payments?

GlobalVCard is perfect for any business of any size and scope. The fear of fraud and compromised card data goes away. The globalVCard Mobile Application allows users to create and send (via email, text, or SMS) secure virtual cards for payment. The cards can be sent to recipients that must log-in to a secure portal to retrieve their payment information. In addition to the single-use option, cards can be set-up with an exact purchase amount, user controlled expiration date, and even restricted usage based upon MCC codes. In combination, these features make the globalVCard the best possible protection against compromised information.

Is this solution specifically suited to any particular size of merchant or business, or can any merchant find it useful?

The great thing about the globalVCard solution is that is designed for any size merchant or business. Our newest release even has a “batch” upload feature which allows a user to create a batch of payments to multiple suppliers in one easy step. Today, we have companies around North America using our product in many different ways. At CSI, we’ve been successful by developing our products to meet the needs of any size company. Our advisory group, which is made up of key executives from all sizes and types of organizations, regularly gives us great feedback that we use to improve all of our products.

Finally, share with us any other plans CSI has to help facilitate B2B payments in the near future.

CSI is continuously developing new B2B payment solutions and technologies. Our newest release of the globalVCard mobile app has greater security built in with the “secure send feature,” and a batch upload tool. Another exciting new feature for us is the inclusion of push notification for approval. In addition, our globalVCard Payment System allows a business to quickly and efficiently use their existing ERP or accounting system to upload an existing payment file to CSI. We then send virtual payments to their suppliers at no cost and with minimal set up. The globalVCard Payment System also has built in workflow to allow for review and approval controls, similar to an existing paper check process.

Another large development is our expansion into Canada with our B2B corporate payment solutions, including, virtual accounts payable, fleet fuel, globalVCard Mobile App, and our corporate purchasing program. It was the right time for us to expand our business into the Canadian market, and we astounded by the welcome we have received up there. It’s been great for us to solidify our long-held relationships, but also venture into new territory to grow our business and expand our opportunities for the future.


Mark Miles
President, globalVCard, Inc., Canada

Mr. Miles is the President of globalVCard, Inc. with offices in Toronto, Ontario. GlobalVCard, Inc. is a subsidiary of CSI (Corporate Spending Innovations) with its corporate offices in Bonita Springs, Florida. Mr. Miles has an extensive sales and management background that has led to the growth of CSI’s Virtual MasterCard for Accounts Payable department. He is experienced in developing a business development team and teams of specialized Financial Account Managers.

Prior to being promoted to President of globalVCard, Inc. Mr. Miles was Vice President of Strategic Partnerships with CSI. He was charged with forging new relationships with potential channel partners, service providers and other business related opportunities. In addition to developing and fostering key relationships, he was and remains a key member of the CSI Virtual MasterCard for Accounts Payable sales team.

Positions held prior to joining CSI companies included Founder/Broker at Miles Realty Group – Naples, FL and Vice President of Intech Automation Systems, Inc. a Tracey, California based semiconductor manufacturing company.

Mr. Miles earned a Bachelor Degree in Business with a Marketing focus from Ball State University, Muncie, IN.