CSI Enterprises, Inc., a recognized leader in cost saving and comprehensively controlled financial payment products, announces the CSI Virtual Payment MasterCard® Program created to optimize accounts payable procedures. The program is universally accepted, highly efficient, strongly secure, and system-compatible, resulting in cost savings in a variety of ways.
The CSI Virtual Payment MasterCard Program automates the payment process by generating a unique MasterCard account number for a specific amount for each vendor payable. No more checks need to be issued.
“This program is ideal for both the customer and the vendor,” explains Keith Stone, CSI President/CEO. “Both enjoy cost savings with efficiency and security which result in increased productivity. Optimizing business practices not only gives one a competitive edge, but helps one become an industry leader.”
A business gets started by submitting a Payables Disbursement File to CSI. The CSI Enrollment Team assists by contacting each vendor, introducing the program and the benefits for participating, and then acquiring the necessary information for enrollment. The vendors are paid with the Virtual MasterCard® card based upon pre-defined date, time and amount. CSI then prepares a single invoice containing all vendor-processed transactions. Online reporting provides immediate information.
For vendors, the CSI Virtual Payment MasterCard Program offers control, security, and accelerated cash flow. No more waiting for a check. Vendors initiate the payment as they would any other credit card transaction with funds typically posting within 24-48 hours, eliminating delays, collection costs and disputes.
A simple, safe, and secure alternative payment method to traditional check disbursements, the CSI Virtual Payment MasterCard reduces the cost of manual check processing.