Orbiscom has seen online consumer spending 200% to 400% higher than industry averages among cardholders using its controlled payment numbers, executive vice president Diane Shaib tells Internet Retailer. The e-payment technology and services provider’s ControlPay platform for secure online transactions is used in the U.S. by credit card issuers Citibank, Discover Financial Services and MBNA. ControlPay products are provided to customers of those institutions under the brand identity of the card issuer.
Shaib says that while the upper range of the increase in consumer spending was achieved in each case within 12 to 15 months of implementation, the lift started to appear in as soon as a few months. “It comes from two areas,” she says. “People are more confident to shop online. And it also comes from preferring that card over other cards they may have in their wallets because it has this service and others don’t.”
The basis of Orbiscom’s products is flexible controls for all aspects of an online credit card transaction—who is authorized to use the card, the credit card number, the amount allowed on the transaction and more. “The controls are what governs all the products on the platform and how those controls are used creates the different products,” says Shaib. Orbiscom’s lead product is the controlled payment number, also called single use numbers, in which a new, one-time number is created as a substitute for a cardholder’s actual credit card number for every online transaction, with the aim of increasing transaction security.
Shaib says the loyalty factor among cardholders whose card issuers use the ControlPay platform is high with 85% of cardholders who use the card once becoming habitual users. Because a new number is created for each transaction, fraud has been reduced to zero among card issuers using controlled payment numbers, according to Orbiscom. That means no chargebacks for fraudulent transaction to card issues, Shaib says, and therefore, no chargebacks passed along to online merchants.
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