Listen to this articleSince 1989 CSI globalVCard has been offering one-of-a-kind financial products while delivering and maintaining a high level of customer service. Their technology is seamlessly integrated and used by many of the world’s leading brands to easily manage virtual cards, ACH, checks and even foreign exchange payments, all through a single platform. Below is our recent interview with Caroline Perry, Global Alliance Manager at CSI globalVCard:
Q: Caroline , how would you describe CSI globalVCard in your own words?
A: CSI Enterprises has provided innovative payment solutions to world leading brands, while providing the highest level of customer service, for nearly 30 years. CSI’s highly secure corporate payment solutions include the globalVCard® electronic accounts payable solution. With one payment file upload, customers can automate 100% of their B2B payables and disburse payments through virtual credit card, ACH, check, or FX with cross-border payments settled in local currency.
Combining technology and extraordinary customer service, our highly secure virtual payment solutions enable businesses around the world to reduce costs and increase profits in all areas of B2B payments including AP, travel and mobile payments.
“We believe that CSI globalVCard’s innovative software technology will continually improve the workflow related to financial transactions between buyers and suppliers in the business to business domain. We don’t settle for less than excellence in every aspect of our company. Our vision is to become the most well respected and trusted global company in the electronic payments segment by delivering innovative solutions combined with outstanding customers service.”
CSI Enterprises, Inc. was founded in 1989. Initially, in the U.S., Brazil and throughout Latin America, CSI was known for its fleet and corporate management products. These products have varied over the years per client, but one shared objective that has not, is the necessity to control efficiencies and streamline domestic and international corporate payment methods. In 1993, the company became the first US fleet management company in Mexico, Argentina, Chile, Brazil; asset management services soon followed in China, South Africa, Puerto Rico and Canada.
In 2001, the first product we launched was global-fleet®, a fleet fuel card that allowed companies with fleet vehicles to better control and manage their fuel spending. We began to see how these same levels of control could benefit finance operations throughout the entire company.
Our next phase of evolution came in 2009 when we were among the first payment providers to embrace virtual card technology (the ability to generate a unique credit card number for every transaction). With this technology, we introduced our electronic accounts payable system in 2011 – globalVCard paysystems – and have experienced double digit growth rates every year since.
This globalVCard payment system is the heart of our new and future growth.
The CSI globalVCard culture is rooted in recognizing the importance of empowering employees and creating an environment where they are free to be ‘thinkers, doers and amazing problem solvers’. Although headquartered in Southwest Florida, the offices of globalVCard are likened to the tech innovation hub in Silicon Valley, which is something we take a great deal of pride in.
On the outside, the payments industry may seem stagnant and uninteresting. But open our globalVCard doors and you will find quite the opposite: energy, innovation and excitement from every one of our employees. The think-tank culture welcomes and encourages new ideas from all. In fact, CSI announced a Silicon Valley-inspired incubator last year, CSI Kick Start, that invests in promising FinTech startups and provides not only financial investment but also the mentorship and resources needed to thrive long-term. CSI already has several success stories under its belt and expects to attract many more.
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Q: You’ve recently announced a strategic alliance with Visa Inc.; tell us something more?
A: CSI globalVCard, a leading B2B payments company specializing in virtual payments, announced a strategic alliance with Visa Inc. to integrate Visa Payables Automation into CSI’s globalVCard paysystems® Payables platform, enabling Visa financial institutions to meet the rising demand for simple and secure electronic accounts payable (EAP) solutions from their commercial clients.
The alliance allows Visa issuers in the U.S. to bring their corporate customers a scalable, end-to-end commercial payments offering, including virtual travel cards and virtual commercial cards with enhanced spending controls, automated reconciliation as well as instant card issuance through globalVCard’s mobile application. This will ultimately help financial institutions grow their key commercial banking relationships while deploying little or no capital investment.
Q: Can you give us more insights into products?
A: Accounts Payable: with globalVCard paysystems, you can process 100% of your domestic or overseas payments securely through a single interface: virtual card, ACH, GVC Network, check or FX.
Corporate Travel: keep business travelers compliant, payment data secure and expenses reconciled with globalVCard travel, our virtual card corporate payment solution.
Mobile Payments: issue secure virtual card payments and manage both virtual and plastic cards in real-time with our award-winning mobile app, globalVCard Spend Secure.
Cross-Border Payments: we’ve made cross-border payments simple and cost effective in over 140 currencies. Paying suppliers overseas is now as easy as paying domestic vendors
Corporate Purchasing Card: CSI’s corporate purchasing card gives you real-time control over employee spending. A unique card number for every employee allows for individualized card settings and easy reconciliation.
Fleet Fuel Cards: since 1989, CSI has been a recognized leader in the commercial fleet fuel business, with international customers spanning the Americas, Canada, Europe and Asia. We provide our customers with the most advanced fleet fuel card program available with 24/7 support.
Q: What are main benefits of your Virtual Card Payments Solution?
A: Virtual credit card payments are offering unmatched security, guaranteed payment, control, easy reconciliation, and cash back rewards. With a single-use credit card number, virtual card payments significantly lower the risk of fraud.
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Q: What are your plans for the future?
A: There is considerable consolidation beginning to happen in the B2B payments market. We look to be one of the aggregators. We also would like to continue with our global expansion.
- Full AP Automation and workflow tied into our current E-payments platform for 100% integrated payables
- Our proprietary network payment using ACH plus faster payments added to our offering
- Another example of globalVCard’s expansion is in the area of cross border payments. As companies expand globally and have an increased need to pay overseas suppliers, we identified a pain point in paying those vendors: cross border (foreign exchange) payments were riddled with complexity and hidden fees. In 2015 we introduced our global payment capability, which allows companies to settle invoices in over 140 local currencies, which significantly reduces fees and adds greater transparency into the transactions. We’ve not only made cross border payments more affordable, but also more convenient. For our customers, all business payments – including foreign transactions – can be made through our web-based globalVCard payment platform, accessible 24/7.
