CSI globalVCard Expands Globally

Leading B2B Payments Innovator Opens London Office and Launches Services For European Market

CSI globalVCard announced that it has expanded services to Europe and has opened a London office, its first move in a planned worldwide expansion. The company plans to roll out its services across additional continents by year’s end.

CSI will use the payment issuance capacity of PrePay Solutions (PPS), a subsidiary of Edenred (70% owned by Edenred and 30% by MasterCard), a worldwide leader in prepaid corporate services. PPS will bring CSI globalVCard its unique payment technology to issue and process all CSI virtual cards and wire transfers in Europe powered by the globalVCard paysystems platform. Expansion outside of North America was sparked by CSI globalVCard’s growing demand from multi-national clients, their increased need for native currency payments, as well as customer service support across local time zones. The global payments market is estimated at $1.2 trillion, of which B2B payments account for $550 billion. Ten percent of organizations make between 20 and 50 percent of their payments to foreign suppliers, and organizations earning over $2 billion in revenue pay the largest percent of their payments to foreign suppliers.

“CSI globalVCard was designed to automate a company’s AP department and transform these departments from cost centers to profit centers,” said Jason Kolbenheyer, Managing Director, CSI globalVCard. “As business practices become increasingly global, it is not only a major step for our company but a critical competitive advantage for our global clients. Now, with the click of a button our clients can send automated, virtual payments to vendors across the globe.”

CSI globalVCard opened a London office to serve clients within European time zones. Additionally, the company now supports 18 different currencies to ensure that each client and their payees can choose their preferred currencies for payments. The primary currencies added to the platform are GBP and EURO. Secondary currencies include: the Australian Dollar, Canadian Dollar, Danish Krone, Euro, Hong Kong Dollar, Hungarian Forint, Israeli Shekel, Japanese Yen, New Zealand Dollar, Norwegian Krone, Polish Zloty, Pound Sterling, Russian Ruble, South African Rand, Swedish Krona and Swiss Franc.

For more information about CSI globalVCard, please visit www.csiglobalvcard.com.