The Transcepta Electronic Payments Solution
Paying your suppliers electronically is a smart way to reduce Accounts Payable costs while maximizing supplier adoption in your electronic invoicing initiative. Transcepta’s solution for electronic payments includes ACH and P-Card processing.
The Transcepta e-payments solutions has two components:
Credit Card/Purchasing Card
Provided by Transcepta and Transcom |
- Use your corporate P-Card to pay supplier invoices
- (Massively) ramp P-Card volume, resulting in a substantial increase in card issuer rebate
- Pay suppliers quickly, but utilize card-payment float to avoid increased cash demands
- Transcepta handles the introduction of the program to your suppliers as part of our onboarding service
- We connect to your P-Card system or ERP system to auto-generate payment instructions once you approve them
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ACH Payment Processing
Provided by Transcepta and ACH Works
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- Facilitates bank-to-bank electronic funds transfers
- Bypasses typical check printing and mailing processes
- Saves the payer money
- Simplifies the supplier's cash application process
- Takes postal mail delays out of the process
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Why Would Suppliers Participate?
This program will only be successful if suppliers participate. Our solution provides substantitive and measurable benefits compared with currently used collections approaches:
- Many suppliers who refuse to offer early-pay discounts will accept credit cards.
- Cash is king, and getting paid faster is the number one interest for most suppliers, especially in today's credit market.
- If payments are automated and the supplier receives accurate, timely remittance advice information, it saves them a great deal of time and energy.
The solution can be much less expensive (in terms of merchant account fees) compared to the merchant accounts that most suppliers use today. How is this possible? Transcepta and Transcom provide complete data for Level II credit card processing. This minimizes or eliminates “downgrades” for mid-qualified or non-qualified transactions. This keeps suppliers out of the "penalty box" of surcharges, which drives their net merchant fees up. In typical accounts, this will save a supplier fifty basis points or 0.5% on their merchant fees. For example, an effective Visa/MasterCard rate of 3.25% can become 2.75% or less. This savings gets suppliers' attention.
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