Manage payment of strategic supplier invoices with Approve2Pay®
Combines the many benefits of a Purchasing Card program with the added control and security of a buyer-initiated payment solution when paying strategic suppliers
Features
More payment options for greater efficiency and tighter security
- Approve2Pay provides the ability to pay any supplier electronically whether they accept MasterCard®* or not – through multiple payment options including Virtual Card and direct pay using Electronic Funds Transfer (EFT) or Automated Clearing House (ACH)
- Advanced reconciliation capabilities; map back to Purchase Order (PO) or Invoice Numbers
- Supported by Supplier Enablement Services
Benefits
- Payment options on how you pay your suppliers, including virtual card or direct pay using EFT/ACH
- Migrate paper-based supplier payments to an electronic method
- Pay any supplier electronically, including those who do not accept MasterCard®*
- Automate payment of large-ticket items, often not captured in traditional Corporate Card programs
- Enhance control around your Corporate Card by only paying for the exact approved invoice amount
- Maintain control over the timing of payments and increase security – preventing merchant and employee card misuse
- Maximize cash flow by controlling when an invoice is paid
- Take advantage of additional days payable outstanding by leveraging a corporate card payment cycle
How suppliers also benefit:
- No special technology is required – just access to email
- No change in process when payment is made by MasterCard®*
- Direct pay using EFT/ACH option – ideal to receive payment for large ticket items
- Easy to track – suppliers receive a secure email outlining the transactions which can include the purchase order and/or invoice number(s)
Related products
Compare Corporate Cards
Choose up to four Corporate Cards to see how each lines up to the needs of your business.
® Registered trademark of Bank of Montreal
®* Registered trademark of MasterCard International Incorporated. Used under license.