Corpay One's payment infrastructure is the best in class and comparable to top third party payments providers (TTPs) in terms of speed of delivery as well as ensured delivery. With Silicon Valley Bank playing under the hood, Corpay One is able to ensure all payments are verified, protected against fraud and aligned with the industry's highest levels of compliance.
Which payment methods does Corpay One support?
Virtual Card: Real-time Virtual Credit Cards (VCC) emailed to vendors
ACH: Electronic payments made through the Automated Clearing House network
Check: Physical checks printed and mailed via USPS first class mail
International wire: Secure, international wires for cross-border payments
How do I specify which payment method to use for each vendor?
Under each vendor's detail page accessed via the Bill Pay > Vendors page:
Here's a detailed explanation of how to select a vendor's default payment method.
How long does it take Corpay One to deliver the payment to the vendor?
Corpay One’s system allows you to initiate payments immediately or to schedule payments for later dates using the Auto Schedule feature, which can be enabled by navigating to Settings > Advanced > Payments (you may also initiate payment manually by hitting the Pay Now button on an unpaid bill).
The following applies to payment processing times in Corpay One (taken from Corpay One's Terms of Service):
(a) When Corpay One receives a request from you to initiate payment of an invoice after 4:00 p.m. (ET) on Business Day 1, the funds required to pay such invoice will be debited from your designated Payment Source no later than on Business Day 3 and credited to the Custodial Account. Upon confirmation that such funds have been successfully credited to the Custodial Account on Business Day 3, such funds will be promptly debited from the Custodial Account and disbursed on Business Day 5 depending on the applicable payment source as follows: (i) information necessary for electronic print check payments will be sent to our check printer; (ii) the payment card number for a card payment will be sent to the Supplier in a secure email; (iii) funds for ACH payments to Suppliers in the U.S. will be submitted into the banking network for credit to the applicable Supplier’s transaction account and will appear as credits therein on the Business Day following Business Day 5; and (iv) funds for wire payments to Suppliers outside the U.S. will be submitted into the banking network.
(b) When Corpay One receives a request from you to schedule payment of an invoice via the “Auto Schedule” feature more than five (5) Business Days from the date of the request, the Corpay One system will initiate the payment five (5) Business Days before the invoice due date and the processing timeline will be as described in Section 4(a) above.
If Auto-Schedule is enabled, Corpay One will initiate your bill payment up to 7 business days in advance of the due date, depending on the settings you've selected in Settings > Advanced > Payments. You may also initiate payment manually by hitting the Pay Now button on an unpaid bill.
Important details to note about processing times:
If this is one of your FIRST payments in Corpay One, please note that processing times may take an additional few days. This is due to banks' security measures around new connections being established.
Official bank holidays (Thanksgiving Day, Labor Day, etc.) are excluded from the processing time estimates below.
Processing time after bill is initiated: 0-1 business days
Summary: Virtual Credit Card (VCC) containing the exact amount owed will be emailed to your vendor. The vendor will process the payment as a credit card payment via their payment processor.
Summary: Funds will appear in the vendor's account via electronic bank transfer.
Summary: A check will be mailed to the vendor via USPS Priority mail. The check payment in Corpay One will only show "Paid" once the check has been cashed / deposited.
Summary: This processes similar to an ACH electronic payment, we just also require SWIFT, IBAN and receiving bank address in order to process these payments.
Cost: $9.50 per payment**
*This time frame may vary depending on the receiving bank and country. Processing requirements vary from country to country, so Corpay One does not have full control of the processing time.
**The receiving bank may charge a fee for international wires that may be deducted from the full remittance amount.
Can I stop a payment in Corpay One?
For both ACH and Check payments, if the payment was initiated less than an hour ago, you can cancel it from the Corpay One web app. If it's been more than an hour since the payment was initiated, please contact us at firstname.lastname@example.org.
For Virtual Card, if the customer has not yet redeemed the VCC amount, we can still cancel and refund the payment.
Can I void a check that was sent?
Yes! Please reach out to Corpay One's support via chat or email ASAP to make sure the check is voided before it's cashed. Please note that a fee may apply for voiding a check.