Payment Automation Via Virtual Card
The video below will show you how ONPAYCONNECT streamlines and processes your A/P payments:
Virtual Card Payment Fact Sheet:
Maintain A/P processes yet issue credit payments WITHOUT providing vendors with an open line of credit as when using a purchase card or credit card. Earn rebates for each dollar spent. Generate a Virtual Credit Card Payment -- a unique MasterCard account number for each vendor payable for a specific dollar amount.Our system allows you to:
- Earn rebates for each dollar spent
- Have full control of payment process
- Be "Bank Neutral"
- Automatically generate and email remittance advice containing unique card number, dollar amount & list of invoices being paid
- Import card reconciliation reporting into ERP
- Forecast rebates using reporting system
With hierarchical password controls to access the software, separation of duties is genuinely achievable. Administrators may set up users to:
- Set-up Virtual Card payments
- Approve Virtual Card payments
- Release Virtual Card payments
- Run reports
Users may be configured to access all companies within the system or be limited in their scope of work.
As part of an Electronic Accounts Payable (EAP) Program, integrated seamlessly with any accounting or ERP, this Payment Hub allows companies to seamlessly make electronic Virtual Card Payments (Single Issue Card Numbers) without logging into a bank or another website to transmit payments.