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.
Features
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

Benefits
- 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)
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® Registered trademark of Bank of Montreal
®* Registered trademark of MasterCard International Incorporated. Used under license.