San Diego -
Payment provider CSI during the annual Global Business Travel Association
conference this month expanded its one-time use virtual card solution to the
corporate travel market. The move, following the July appointment of Robert Lawrence to vice president of travel solutions, marks CSI's new focus on
business travel.
Clients now can use CSI's GlobalVCard, powered by
MasterCard, to pay centrally for business travel expenses including air, hotel
and car rentals. CSI integrates with travel management companies to ensure the
virtual cards are issued only after employees book policy-compliant travel. Companies
then issue a one-time use GlobalVCard in the employee's name for a specified
amount and suppliers to pay for the reservation.
"People know there are two ways to pay, with individual
card or a central card, and each has its advantages and disadvantages,"
Lawrence said. "By issuing the [GlobalVCard] in the traveler's name, it's
like issuing a corporate card for each payment."
The integration with the TMC also allows the virtual card to
collect the data needed for reconciliation, including transaction details, confirmation
numbers, daily rate information, internal codes and employee identification
numbers.
"What's really important is central payment, because it
enables companies to gain compliance, which increases the usage of preferred
suppliers," said Lawrence. "Anyone who doesn't use a preferred travel
agency has to book on their own and expense it. Expensing an item for
reimbursement is the automatic red flag."
Through a mobile app, which is compatible with Android,
BlackBerry and iOS platforms, users can store their virtual cards on their mobile
devices and pay, using near-field communication, by showing the merchant the
card on the device or by pressing a button that sends a fax or email depicting
the front and back of the virtual card.
"We don't want to have a mobile app where maybe only half
of the hotels accept it, because we can't risk someone not getting checked in,"
Lawrence explained. "So we've automated the entire process so that the
virtual card issued will go to the hotel in the traditional way, which is the
front and back of the card, and will look like plastic even though it didn't
exist."
Travel managers can also create virtual account numbers and
monitor spend via the mobile app.
CSI has been in the payment business for 25 years, providing
solutions to various verticals, including hospitality, advertising, media,
sports and entertainment, and has more than 15,000 clients, according to
Lawrence. The firm has offered the GlobalVCard tool for about five years and
the mobile app for about a year and a half. The transition into corporate
travel was a "natural progression," he said, and required CSI to tailor
the solution to be able to pay for travel and to integrate with TMCs. CSI now is
looking to "expand our footprint greatly," Lawrence said.