Some retailers launched online deals well in advance of Thanksgiving, Black Friday and Cyber Monday.
First Data Corp. will offer single-use credit card numbers from Orbiscom Inc. to its 1,400 clients who issue credit and debit cards.
First Data Corp., a provider of payment services including payments over the web, will offer single-use credit card numbers from Orbiscom Inc. to its 1,400 clients who issue credit cards and debit cards.
Orbiscom’s Controlled Payment Number technology allows issuers to provide cardholders with an authenticated, unique card number for each payment or merchant instead of transmitting the cardholder`s actual card number over the Internet. The numbers are specific to each transaction and issuers can provide their customers with the ability to select the dollar limit, expiration date and specific merchant site for use. Invalid after subsequent usage, Orbiscom says the substitute numbers help issuers drive increased card usage while minimizing fraud and the costs associated with it.
Orbiscom says issuers who have adopted single-use numbers have experienced a minimum of 30% growth in average ticket size of online transactions and 62% of Controlled Payment Number users become repeat customers. Orbiscom says this system gives issuers an option to promote and sell services personalized to each cardholder via the cardholders` desktop application.