ESM integrates its spend management solutions with CardConnect
Enterprise security platform keeps credit card data safe
ESM’s spend management platform is now integrated with CardConnect, a leading provider of payment processing and technology solutions that helps more than 150,000 organizations accept billions of dollars in credit card transactions each year.
The partnership will offer ESM customers new levels of protection against fraud and cyber-attacks, as well as providing robust transaction management tools. CardConnect’s advanced payment solution features patented, PCI-validated point-to-point encryption and tokenization.
“For good reason, cybersecurity and fraud reduction are major concerns for our customers,” ESM CEO Anthony Rotoli said. “We’re eager to roll out this new integration, which will provide ESM’s users with more opportunities to safeguard their data and even save them time and money down the road.”
Credit card numbers not required
With the integration, ESM’s users will not have to key in their credit card numbers each time they make a purchase within their ESM eProcurement online shopping portal.
Instead, through CardConnect’s PCI-validated integration, credit card information will only have to be entered once, at which point it will be encrypted and assigned an irreversible token that only CardConnect can read.
When users make a follow-up credit card purchase, there will already be a token stored within the system to complete a transaction through ESM’s e-commerce site.
Among the benefits of this new integration, ESM customers:
- Will face a reduced PCI burden. CardConnect will ensure that their credit card data is store securely in a PCI-validated vault.
- Will eliminate opportunities for fraud with the tokenized approach because fewer buyers will have access to an organization’s physical credit cards and their numbers.
- Can boost P-card use, which means more opportunities for rebates and other P-card benefits.
Suppliers win too
The platform also streamlines the process for suppliers. With CardConnect, suppliers can sign up for a single CardConnect merchant account. Any buyer within the system can purchase from that merchant account using their specially assigned token. CardConnect’s encryption and tokenization means suppliers will no longer be responsible for storing credit card data, substantially cutting their costs and risk.
For ESM users, the integration means they potentially may have more places to shop from as suppliers sign on for merchant accounts. At the same time, suppliers who move onto the CardConnect platform could see their customers and sales surge.
“With CardConnect, everybody wins,” Rotoli said. “We’re thrilled to be able to offer this new integration to our customers.”