Cashflow 3606/23/2023 ![]() ![]() How long does a supplier have to process the payment / will they receive reminders to process?Īll virtual cards are set expire 30 days from the date the payment is sent. For virtual cards that have not expired or cleared, users will have the ability to void the virtual card as well as select the payment to view all virtual card information (16-digit card number, CVV, zip code, etc.). Once sent, the Cashflow360 user will be able to view the status of all issued payments (including virtual cards) via the Payments Out screen. How will the Cashflow360 user track status and manage their issued virtual cards? The payment instructions will be sent almost immediately after selecting Send. When a Cashflow360 user chooses to send a virtual card payment, when is the remittance detail sent to their suppliers? Payment instructions will be sent to the remittance email entered in the vendor profile or during the payment workflow. Where are the virtual card payments sent? Rebate payment is subject to additional terms outlined within Cashflow360. Any pending virtual card payments would not be reflected. The current balance represents the current period (either 1/1 – 6/30 or 7/1 – 12/31) rebate earned based on the value of settled virtual card payments subject to netting of returns and fraudulent transactions. What does the current balance in a Cashflow360 user's virtual card rebate calculator represent? Rebate calculations will be based upon 1/1 – 6/30 and 7/1 – 12/31 periods payment will be delivered within 90 days following period end. The rebate will be paid out semi-annually as a cash deposit back to the client’s selected DDA (clients with processed virtual card volume will be contacted by their Chase relationship team to select their DDA for rebate). When will the rebate earned by clients be paid out? Payments Will the rebate clients earn be determined by payment size?Ĭlients will earn a flat rebate of 0.75% (75 bps) on the notional amount of each processed transaction. No, the Cashflow360 Virtual Card program is completely distinct and separate from other card programs. If a client has an existing card program on Chase Connect, are Cashflow360 Virtual Cards included? There is zero cost for sending a payment virtual card payment, regardless of whether the client is on a bundle or non-bundle pricing structure. ![]() How much does it cost to send a virtual card payment? All transactions are pre-funded, meaning the funds will be debited from the client’s account at the time of sending the virtual card. Is a credit line required for Cashflow360 Virtual Card payments, similar to other single use account (SUA) programs? No, users can begin sending virtual card payments immediately after enrolling in Cashflow360. General Is there a separate enrollment process to begin sending Cashflow360 Virtual Card payments? When a virtual card is sent, what is the supplier’s experience?.What happens if a supplier opts out of Virtual Card?.Do Cashflow360 users have the option to turn off card payments?.What is the incentive for suppliers to accept virtual card payments?. ![]()
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