Ixaris, an innovator in global electronic payments, today announced the launch of Opn Card Guardian, a payment application that automates the corporate purchasing process through one-time-use virtual Visa cards.
For the first time, developers and businesses can integrate corporate purchasing functionality into third-party procurement systems without having to partner with a financial institution or integrate with a card processor.
Using Opn Card Guardian, any type of firm, from SMEs to global enterprises, can issue their employees with company-branded open loop virtual Visa cards that are pre-loaded with funds and configured in various ways to ensure that purchases comply with internal expense control arrangements. This level of financial control gives organizations the ability to take advantage of online purchasing through Visa cards while reducing reconciliation discrepancies and unauthorized purchases.
Opn Card Guardian is the latest 'paylet' to be launched on Ixaris Opn, the first commerce-enabled payment solution that provides open access to the Visa and MasterCard networks and global money transfer networks. This publically-accessible platform allows businesses to rapidly create secure, compliant and flexible payment applications without the cost, complexity or time constraints of developing these functionalities from scratch.
Alex Mifsud, CEO of Ixaris, said: "Gone are the days when sharing the corporate credit card details with numerous and often transient staff is the only option for business to take advantage of online purchasing. Organizations now have the ability to extend their purchase and expense control arrangements with a card purchasing option that does not compromise on financial control and oversight. Any business with a basic intranet can incorporate the payments innovation that Opn Card Guardian offers easily within their site, so it is as simple to implement as it is to use."