E-Payables/Virtual Cards

Electronic payables (ePayables) are an alternative type of Commercial Card solution designed to capture spend that end-users do not usually push through the P-Card channel. Most often, they are part of a traditional purchase-to-pay (P2P) process that includes invoice receipt and approval prior to payment. Moreover, they offer additional controls, but typically not as much process savings as P-Cards. Overall, they can be a great addition to an organization’s payment strategy.

These solutions are also known as electronic accounts payable (EAP). Further, depending on the type, they are also associated with various other terms: push payments, straight-through payments (STP), buyer-initiated payments (BIP), supplier-initiated payments (SIP), Virtual Cards, single-use accounts (SUA), etc. Each provider has a proprietary name for its solution and the functionality varies for each. 

In addition to the type of Virtual Cards addressed in this section, there are also Virtual Cards that can be issued to individual employees by pushing directly to their mobile wallets. See more…

Related Resources

The Mechanics of ePayables

• How suppliers get paid with the different types of ePayables

• Benefits and how ePayables compare to P-Cards

• Virtual Card reconciliation hurdles (and tips)

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