CFO Magazine: Will Virtual Cards Finally Find a Big Market in AP?
CFO Magazine – As part of CFO’s special report on payments revolution, CSI globalVCard is featured in the article, “Will Virtual Cards Finally Find a Big Market in AP?” An excerpt is provided below. Read the full story and see why CSI globalVCard is a leader in virtual card technology, and how one of our customers has transformed his business through the use of the globalVCard payment system.
Excerpt from CFO:
If there were a unique credit-card number for every transaction paid for with a card, much of the effort and cost companies must bear to secure sensitive customer data would simply vanish.
That obviously can’t be accomplished with plastic cards, but for electronic transactions, virtual card technology that generates single-use numbers has been available in the United States for at least six years.
It is something of a puzzle that while many accounts payable departments in recent years have reduced or eliminated the use of paper checks in favor of wire transfers and other forms of electronic payment, relatively few have adopted virtual cards.
Read the full article on CFO.com.