When we talk to vendors about virtual card we determine if they take card and how they process the cards.
The business size, payment amounts, and current processing go into determining the best choice.
- Self-process- Someone on their A/R team receives the card number and remittance email, and runs the card through their merchant service provider. Once they are enrolled in this program, they will receive cards of any dollar amount and will be responsible for processing. If they do not process the card, they will be re-routed via paper check.
- Assisted Pay- They accept cards, but either have restrictions on keeping processing information( the leading 6 digits of the card) or outsource the processing to a phone service, portal or third party merchant service support. These cards are processed by our Payment Operations Team or the bank that issues the cards, whichever is best suited to the account type to expedite processing. These are common processing tiers.
- Portal- a website they have created or outsourced where a Payment Ops team member logs in and makes the payment
- Phone call – Giving all the card information over the phone for one-time processing
- Merchant Website- log in to a generic merchant service provider website like Paypal, Stripe etc. to process the card
If we have any questions while processing the card, the Viewpost Team or the processing bank may reach out to the vendor.
If a vendor has any questions, or wishes to change their payment type, or process, they may reach out to us.