In the past, organizations have used credit cards to pay their bills and expenses to earn rewards points, airline miles, and cash rebates. Historically, organizations encounter challenges with credit card programs, including lack of automation, potential for fraud, lack of control, and earned rebates not up to expectations. These programs simply did not deliver the value that was intended.
The CPS Virtual Card Program provides companies with the ability to utilize virtual credit card payments seamlessly within existing processes to create efficiencies and reduce costs, while maximizing earned rebates. Our Virtual Card Program is a unique solution focused on increasing back-office finance efficiencies and vendor participation while enhancing the rebate opportunities for your organization. Getting started is extremely fast and easy. Our proprietary technology only requires a simple payment file from your AP module to enable your organization to pay invoices with a one-time-use virtual MasterCard.
The CPS Virtual Card Program provides a method to deliver payments electronically using a secure, one-time use MasterCard account number. These payments can only be processed by a vendor for the amount specified and reduces the cost of handling and mailing paper checks.
Your virtual credit card program can be up and running in as little as 7–15 days without eating up a bunch of your team’s time and resources. Speed matters because every check payment that goes out the door is a lost opportunity for rebate revenue and cost savings. A dedicated project manager will lead our in-house team of implementation specialists to integrate our system to your accounting software.
We offer the industry’s most advanced vendor enrollment approach—which means less effort for you with more benefits, including: