NEW YORK First Data Corp.s card issuing subsidiary has signed an agreement to offer Orbiscom Inc.s software to its card issuing clients.
New York-based Orbiscoms system gives credit card holders an authenticated, one-time-use card number for each payment they make online.
Each number is specific to a single transaction, and issuers can provide customers with the ability to select the dollar limit, expiration date, and specific merchant site for use.
The substitute numbers are invalid for subsequent usage, a feature that Orbiscom says can increase card use while minimizing fraud.
Through this partnership, First Data underscores its commitment to providing issuers with state-of-the-art technology to ensure cardholders feel confident and secure when making purchases online, Henry Tsuei, the senior vice president of ventures and emerging technologies at First Data Resources, said in a press statement. We are very pleased to offer this new solution to our issuing clients and view it as another opportunity for them to build revenue as a result of increased card usage and improved customer retention.
Orbiscom also has offices in Europe, Asia Pacific, and Canada.