Pay by Virtual Card

What is pay by virtual card?

Pay by card combines the controls and approvals of our PO process, with the ease of paying an invoice using the virtual cards that our customers are already accustomed to. The resulting virtual card is visible to Admins, Accountants, and the Requestor assigned to the Purchase Order, and is generated against the bill, not the PO. This means that we support multiple virtual cards for a PO, if there are multiple bills.

From a funding perspective, these cards are generated using funds in the Holding Account, and is a feature that is available for organizations with a specific payment handler only. Check with your team's Customer Success Manager or [e-mail] for compatibility confirmation.

When the card is swiped, we will generate a bill payment record that will be synced into the ERP, to complete the entry.

How do I get started?

1. Request a Purchase Order, and create a bill against it.

2. Click Pay Bill and select Card as your payment method

3. Click Generate card

4. A card will be generated, which will be available to the AP team (Admin, Accountant roles), as well as to the Requestor that is on the Purchase Order, so they can take the card and pay their invoice themselves if needed.

5. When a transaction is made on the card, it will appear within the card detail page. A bill payment will be recorded, and will be synced into the ERP.

When do I use a virtual card?

The virtual card feature should be used whenever there is both a Purchase Order generated, and the Requestor or AP is looking to pay for an invoice or bill against it using a virtual card.

Customers can benefit from optimizing their payments to be made via virtual card, if they have a Teampay cash back program, as this virtual spend does count towards their eligible spend.