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Program Strategy

• Why has the ÀÏ°ÄÃÅ×ÊÁÏ decided to pay our company by Visa card payments?

  Our goal is to optimize our commercial card program in order to improve process efficiency and working capital management, as well as reduce the cost of processing paper checks.

  • This initiative also supports our green initiative by reducing our use of paper.
  • Our suppliers benefit from this strategy as well, since Visa payments provide consistent, predictable payments and allow for streamlined processes.
• What are the benefits to our company of receiving payment by Visa payment solutions instead of check?

  More and more, suppliers are coming to realize that they can enjoy significant, tangible savings from accepting Visa payment solutions from their customers, including:
  
  

  • Working Capital Management: As an incentive, we are agreeing to pay card accepting suppliers on approval of invoices. This may result in a significant acceleration of payment.
  • Process Efficiency: Suppliers can reduce internal processing and transaction costs by eliminating paper-based processes, including check processing and associated reconciliation efforts.
  • Supports Internal “Green Initiatives”: This automated electronic payment process reduces the use of paper from both you and your customer’s organization.
  • Customer Acquisition and Retention: By allowing ÀÏ°ÄÃÅ×ÊÁÏ to pay by Visa Commercial Card, suppliers provide a valued service which may be a determining factor in becoming or remaining a preferred supplier. Additionally, as other customers seek to concentrate more spend with fewer preferred suppliers, those who offer flexible and beneficial payment solutions may receive increased revenue and strengthen their competitive advantage.
• Are there fees associated with receiving payment by Visa card payments?
  The standard processing fees administered by a supplier’s merchant acquiring bank will apply. We encourage suppliers to review their merchant account agreement and discuss ways to achieve the most favorable rates with their bank. Additional programs may be available to help reduce these fees based on the transaction size, level of data provided, and frequency of transactions processed.

New Payment Process

• How will card payment change the current purchasing and payment process with our company?
  • The current processes for orders and invoices will remain the same. The only change will be to the payment process.
  • Authorization which will include the invoice numbers being paid, the total amount of the payment and the 4 digit card number for verification. Suppliers will receive an email notification for each payment.
  • The new process will allow both our suppliers and ÀÏ°ÄÃÅ×ÊÁÏ to streamline operations.
• What is the process for being paid by the ÀÏ°ÄÃÅ×ÊÁÏ payables automation program?
  1. Vendor most enroll in commercial card payment program
  2. Vendor will be supplied with their VISA Card number
  3. Payment authorization e-mail notification sent when invoice is being paid by ÀÏ°ÄÃÅ×ÊÁÏ
  4. Vendor process credit card information for the authorized amount 
  5. Vendor receives payment within 24 hrs
• Can our company receive payment by ACH instead of card?
  Our goal is to expand our commercial card program as much as possible in order to optimize the benefits we can achieve from process efficiency, working capital management, and spend visibility.

Additional Help

• How do we get set up or what do we need to do to accept credit card payments?

  For those suppliers who currently accept credit card payments, they can begin this new payment arrangement by completing the below information (include multiple remittance addresses as appropriate) and send it to PCard.SEP@suntrust.com or call 855-465-0317.

  • Company name
  • Remittance address
  • City, state, zip code
  • Contact name
  • Contact title
  • Contact phone
  • Remittance e-mail (This is either a Receivable Dept email or designated person to process card transaction payments.) 

  Suppliers will then be provided with a Visa Commercial Card account number to use for payment. In the future, the supplier will receive an email notification indicating the charge amount and the remittance details for each payment. We also ask that suppliers include the appropriate invoice number(s) and/or purchase order number(s) when processing the transaction for our reference.

   

  For those suppliers who are not currently set up with a merchant account, to arrange for basic Visa Card acceptance, they should contact their corporate banking service provider or contact our preferred credit card service provider, SunTrust Bank card support. SunTrust is a bank card acquirer that specializes in business-to-business transaction processing. Suppliers can reach a SunTrust card sport representative by calling (855) 465-0317 or by e-mailing PCard.SEP@suntrust.com. Once this step is completed suppliers should contact the ÀÏ°ÄÃÅ×ÊÁÏ Enrollment Team at akgraham@unf.edu or call (904) 620-2946 to complete the remaining steps as noted above.

• Who do I contact if I have additional questions?
  For enrollment support, please contact us at PCard.SEP@suntrust.com or call (855) 465-0317.
  
  For questions about the ÀÏ°ÄÃÅ×ÊÁÏ commercial card payment program, please contact Angela Graham at akgraham@unf.edu or call (904) 620-2946.