E-PAYMENTS

ASCEND

What is a virtual card?

Attributes:

  • Virtual(no plastic)
  • 16 Digit code, CVC, Expiration Date
  • MasterCard
  • Unique single-usenumber generated for each payment
  • Issued for an exact amount of invoice

Delivery:

  • Supplier notified of payment via email
  • Card data delivered via secure email and secure portal

Payment Receipt:

  • Processed through supplier’s existing POS/Merchant Terminal

Why use a virtual card?

Benefit to the Financial Institution:

  • Reduce the amount of checks issued
  • Simplified reconciliation and tracking
  • Reduced risk of fraud-no lost or uncashed checks
  • MonthlyRebates / No-tiers

Benefit to the Vendor:

  • Receive payment faster than waiting for a check
  • Increase security controls
  • Enhanced remittance advice
  • Does not require bank account/ routing information