Optal, a world leader in optimising B2B transactions, today announced health and security risk management services provider Healix International as the latest multi-national to transform its payment processes with Optal Virtual Account Numbers (VANs).
Over the past quarter of a century, Healix International has forged an impressive reputation as a global provider of high quality, cost effective services for clients who want control over their health, travel and security risk provision.
Corporates, governments, NGOs and insurance providers leverage the company’s unique expertise to provide global travel risk management and medical and security assistance services for their employees and customers.
This means the firm has a large network of global suppliers that often require upfront payment in time-critical scenarios.
“Previously we were using credit cards to pay these suppliers, but we were looking for something that provided greater security and auditability,” says Healix International’s Director of Operations, Marise Caunter. “That’s why we switched to Optal VANs and we’re delighted with the results so far. Now a transaction statement is generated immediately so we can track who made the payment, instead of at the end of each month under the previous system.”
Optal VANs are automatically generated, single-use, 16-digit card numbers that can be used to pay suppliers much faster than via legacy processes. They optimise traditional payment processes to strip away banking costs, human error, manual overheads and security and fraud risk.
Reconciliation is automatic and immediate and there’s no need for clients to hold supplier details because the supplier uses the VAN to pull the payment from the card scheme. This reduces client exposure to data breach risks.
Firms can also introduce extra traceability and security to the unique, time-limited account numbers by determining an expiration date and adding editable data to accompany each payment.
“It’s fantastic to see Healix International is already driving operational improvements and is actively seeking new parts of the business that could also benefit from Optal VANs,” said Optal Director of Business Development, Katrina Beckwith. “They join a growing list of multi-nationals across the globe waking up to the wealth of new opportunities made possible by optimised B2B payments.”