BirchStreet inks electronic payment deal with CSI globalVCard
CSI globalVCard, a leading provider of electronic payment solutions, and BirchStreet, the leading procure-to-pay (P2P) solution provider for the hospitality industry, today announced a partnership and the upcoming integration of their enterprise technologies. The integration will further enhance BirchStreet’s eProcurement platform to allow its customers the option of paying suppliers through CSI’s highly secure globalVCard payment system.
“The partnership and integration of technologies will allow our mutual customers to conveniently apply payment to any purchasing activities in the BirchStreet cloud platform,” said Bill Hirsch, VP of sales & marketing at BirchStreet. “Giving our customers access to securely make payments using CSI’s globalVCard paysystems will improve efficiency, operational processes and increase profits, in addition to making the entire procure-to-pay automation process even more inclusive and comprehensive.”
The software integration will bring the following key benefits to BirchStreet clients:
• Security – a secure, compliant payment system is at the core of CSI’s globalVCard solutions. Single-use virtual credit card payments offer additional security since the card number becomes invalid once the transaction is complete and therefore cannot be compromised.
• Cost savings – electronic payment processing greatly reduces paper checks and the costs that go with them, estimated to cost a business up to $20 per check.
• Speed – through the system integration, payments are completely automated, significantly increasing efficiencies and eliminating the risk of manual error
• New revenue – customers earn monthly cash back rewards based on virtual card transactions
“The ability to create a true no-touch process from procurement through payment is where the industry is heading,” said David Disque, managing director at CSI globalVCard. “In choosing a partner that enables us to leapfrog the competition, we sought a company that shared our core values and commitment to innovation and customer success. We are pleased to announce our partnership with BirchStreet and look forward to long-term success and continued innovation.”
The partnership will initially focus in the hospitality industry where both companies hold market leading positions in their respective areas of expertise. BirchStreet is a recognized P2P automation leader, serving more than 7,000 properties, managing more than $10B of spend. CSI’s globalVCard platform streamlines payments for hundreds of properties, representing over 75% of the top 25 hospitality management companies.