Virtual Payments - ePay Innovation

Automate Your Payments

Reduce costs and paper associated with check payments

Enhance controls, increase visibility and streamline processes

It's easier, efficient and a better way to pay

Simplified reconciliation and accounting system integration

Turn accounts payable into a revenue generator

Virtual Payments are easy and do not change how you process invoices.

It just adds a new payment type.

MasterCard^® accepting vendors do not have to change how they accept payments. For them, it’s like accepting any other card payment.

Payment acceptance is easy, fast and transparent.

Our payments partner, Comdata Corporation can help get your company’s Virtual Payments program up and running in a minimal amount of time. Here is how it works.

You submit a consolidated payables disbursement file to Comdata
containing payment and invoice detail for each vendor

Step 1:

For each payment, Comdata assigns a virtual MasterCard account
number for the specified dollar amount with detailed remittance
information, including your system-generated payment number

Step 2:

Your supplier receives payment and authorizes a virtual MasterCard
account number, which settles and they get paid within 24 - 48 hours

Step 3:

Comdata provides an invoice file back to you of all transactions for
automated reconciliation just like a positive pay file from a bank

Step 4:

A Virtual Payments program benefits both you and your vendors

Use our ROI Calculator to estimate your cost savings and the benefits of implementing a virtual payments program

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Payer Benefits

Reduces processing costs and paperwork by decreasing the number of check payments
Automates the payment and reconciliation process with integration into the management firm’s financial system
Sets limits on the dollar value and expiration date for every virtual payment account issued
Generates revenue share from existing accounts payable disbursements
Process payments safely, securely and mitigate the potential for fraud

Vendor Benefits

Accelerated cash flow and elimination of delays due to mailed checks
Improved financial controls and more detailed remittance information
Reduced collection and dispute costs from greater visibility into the payment process
Continue to maintain a preferred vendor status versus other non-program participant vendors
Reduced manual involvement in payment processing

It’s highly likely your vendors already accept MasterCard^® and may in some cases, are already being paid via Virtual Payments accounts

82% of vendors said they would be “likely” or “very likely” to accept virtual payments if an existing buyer mandated its acceptance*

5% of vendors indicated that virtual payments require equal or fewer resources as other payment methods*

Detailed remittance advice information” and “faster payments” are the most commonly realized benefits of virtual payment acceptance*

*Kaiser Associates, “Market Perceptions of Card Use in B2B Transactions”, 2013

Add a new payment type and generate revenue from existing disbursements, while improving productivity and reducing payment-related costs.

Let us show you how.

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