Manage payment of strategic supplier invoices with Approve2Pay®
Convenient and flexible payment solution that combines the many benefits of a Corporate Card program with added control and security.
More payment options for greater efficiency and tighter security
- Approve2Pay allows you to pay any supplier electronically - whether they accept Mastercard® or not - through multiple payment options.
Payment options include:
- Supplier Initiated Payment using a virtual card
- Buyer Initiated Payments that are directly deposited into the Suppliers bank account.
- Advanced reconciliation capabilities; map back to Purchase Order (PO) or Invoice Numbers
- Supported by Supplier Enablement Services
- 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 supplier payments 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 change in process when payment is made by using a virtual card
- No special technology is required - just access to email
- Reduce days sales outstanding
- With buyer initiated payment, the supplier does not need to intervene to receive payment
- Ideal to receive payment for large-ticket items
- Easy to track - suppliers receive an email outlining the transactions, which can include the purchase order and/or invoice number(s)
A virtual card solution offering convenience and great security.
Consolidate all of your business spending in one card program.
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.