Once you enroll in PairSoft Pay (powered by Finexio), we conduct a tailored outreach campaign to your suppliers to convert them to a form of online payment processing. The current electronic payment options are:
Virtual Credit Card, aka vCard: a single-use non-plastic credit card account emailed securely at each payment transmission to the supplier along with remittance details. vCards are typically sent faster to a supplier than a check by mail and settle more quickly. vCard is the preferred payment method for our customers because vCard payments, like a cash-back credit card, generate cash as a percentage of the payment total. This cash back funds the program and will become a new revenue stream for you.
ACH: funds sent electronically to the supplier’s bank in real-time. Like vCard, ACH payments are supported by remittance info emailed to the supplier and are faster for the supplier than check by mail.
Suppliers unable to move to an electronic payment method will remain as a check payment on an exception basis.