Comdata provides Concur Invoice clients with an integrated, world-class virtual credit card program. In addition to paying invoices with check or ACH, clients can make payments using a secure, single-use MasterCard account number to minimize the cost and hassle of paper check payments. And because funds are delivered through the MasterCard network, you earn monthly rebates on spending, similar to the way a consumer earns cash back on a personal credit card.
Virtual credit cards are locked down for a specific dollar amount and expiration date, and delivered electronically to your supplier, which minimizes fraud risk.
The basic process works like this:
1. You submit invoices for payment just as you do today.
2. If the vendor being paid is flagged as a credit card acceptor, the payment file is automatically sent to Comdata.
3. Comdata generates a single-use 16-digit MasterCard number and delivers that number, along with full invoice and remittance data to your vendor.
4. You receive a reconciliation file back, just like a positive pay file from your bank.
Comdata is a leading provider of innovative B2B payment technology and one of the largest commercial credit card issuers in the world. The company provides technology for AP automation, corporate card and fuel card programs, travel expense management and workforce payment solutions.
Click the Inquire button to learn more about Comdata’s virtual card integration with Concur Invoice.