名媛直播

B2B payments are finally moving away from paper checks to electronic payment methods. And, adding single-use virtual card payments to your Accounts Payable process transforms the finance team from a cost-center to a revenue-generator.

Beyond impacting your organization鈥檚 bottom line, virtual cards speed vendor payments and are one of the most secure electronic payment methods available.

What are virtual cards?

A virtual card is a single-use, randomly generated 16-digit credit card number used to process a specific vendor payment for a specific dollar amount. So, virtual cards are a secure, 鈥榩lastic-less鈥� electronic payment method. And, most virtual card programs include a vendor network of merchants who accept those payments. For example, 名媛直播鈥檚 virtual card program is part of a network of more than half a million opt-in vendors.

What are the benefits of virtual cards?

For Your Vendors

• Payments deposited directly into vendor bank account
• Faster payments
• No paper checks or bank deposits
• Electronic remittance detail

For You

• No more writing/mailing checks or potential for lost or stolen checks
• Reduces check fraud
• Ensures against late payment fees
• Earns your organization 0.5% cashback on qualifying payments
• Simpler reconciliation process 鈥� payments appear as a debit on your bank statement

Does 名媛直播 offer virtual card payments?

Yes. SilverPay is 名媛直播鈥檚 secure electronic payment network that provides cash back on all payments to enrolled vendors. And, 名媛直播鈥檚 SilverPay network consists of more than half a million vendors who accept these virtual card payments.

名媛直播 customers receive rebates and don鈥檛 need a commercial credit card. Customers receive 0.5% cashback on all qualifying transactions. And 名媛直播 pays rebates quarterly by the customer鈥檚 preferred payment method (ACH, check).

Vendors who already accept credit card payments are automatically enrolled in SilverPay, and all subsequent payments to those vendors are made via virtual cards. In addition to the electronic remittance detail, vendors receive a one-time use card number with a 30-day expiration date for processing. Then when payments are processed, the customer鈥檚 checking account is debited electronically.

So how do I know which vendors accept virtual cards?

名媛直播 conducts an initial vendor list match against our database of known, accepting vendors. For unknown vendors, 名媛直播 will initiate an enrollment campaign that encourages vendors to sign up to receive virtual card payments. If approved, 名媛直播 sets SilverPay as the default payment method. And, we鈥檒l provide you with a list of card accepting vendors, an analysis of your historical annual spend, and your anticipated rebates.

Want to learn more? Schedule a demo today!