Advantages To Outsourcing Your Payment Processes
With over 20 years experience providing large and small businesses alike with outsourced payment solutions we have compiled this list of advantages to non-bank based payment solutions.
- No minimum annual spend to attain before you earn rebates
- No tiered rebate structure; means maximum rebate to you
- Maximum rebate basis points
- Rebates received monthly
- No maintenance fees
Secure & Easy to implement
- Use single-use virtual card technology, this works best for AP Invoice payments and simplifies reconciliations, # used once unlike Ghost cards & P Cards, eliminates fraud risk of stolen card numbers.
- No changes required to your payment output file; no need to include a card payment method in your payment data file.
- Contact all vendors regardless of spend; Not limited to call just the vendors you have phone #’s and contact for – Net much higher conversion rates!
- Support Vendor Signup for both Card and ACH using same team and vendor portal; smooth, efficient, and not pushy
- Vendor Portal for self-service, manage account into, electronic remittance data provided at no cost; more value for vendors as well.
- Email and mail campaign for small vendors.
- Phone campaign with annual spend at $5,000 or above; 30-40% of rebates from vendors with less than $50k spend annually
- Five follow up calls – gentle persistence
- If no phone number is provided, they find the # and give it to you for your records
- Re-run campaigns to capture new vendors every 6 months, on-going
- Follow up with vendors who “forget” to charge the card – similar to check escheatment, but they resolve for you
- Phone success rate 45% – Outstanding!