A virtual card is one of the many ways a vendor can be paid out of the Corpay One Bill Pay application. Learn more about ways to pay vendors.
A vendor can be configured in Corpay One to be paid by a single use 16-digit credit card. The card is generated through the Corpay One Bill pay application and sent to the email address listed in the vendor profile once the invoice is approved and scheduled to be paid.
A few important details to keep in mind:
In order for a vendor to take advantage of virtual card payments, the must be able to accept credit card payments with a credit card payment terminal (think POS system like Square, Wave, Venmo for Business, Stripe)
·While the payment option is free for Corpay One customers, the vendor would be subject to any credit card fees according to their existing credit card processor.
While Virtual Cards provide instantaneous payment from Corpay One to your vendor, the process of transferring funds from your account to Corpay One remains the same (which for most established customers is same day). Therefore, it can take up to a day for the customer to receive their VCC after payment is first initialized.
It is recommended that customers speak to their vendors prior to setting up a virtual card payment.
For assistance in setting up a vendor for virtual card payments contact support@corpayone.com.
For users with Payables, see here for how to set up vendors to pay by virtual card.
For users with Inbox, see here for how to set up vendors to pay by virtual card.