FAQS You Have Questions. We Have Answers. General How do BluePenguin payments work? It’s quite simple. When you receive and approve a vendor invoice, you ask us to create a virtual card for the vendor to process. When the card’s funded, the vendor processes the card like any other. Then we’ll send you an industry-leading rebate. How do virtual cards reduce fraud? Virtual cards offer unparalleled flexibility and control over other forms of vendor payment. Use options like single-use cards, exact-amount cards, all the way to “locking” a card to a specific vendor. With no bank details to share and no checks to get lost in the mail, virtual cards are by far the most fraud-proof form of payment available to the modern business. How do virtual cards reduce errors? You can create a unique card for every vendor in your accounting system, or even a unique card for every invoice you pay. Set usage controls so that the card can only be used by the exact vendor you intend for the exact amount you’ve chosen to pay. It’s the right payment to the right recipient, every time. What card options does BluePenguin offer? We support multiple card types across both major payment networks. For each type, you can create single-load / single-use cards or reloadable cards. Cards can be funded individually or you can establish a funding model that shares a single balance in real time across potentially thousands of cards. Add the ability to generate both physical and wallet-based cards too, and you have a platform ready to help you solve even the most complex card requirements. What other payment methods does BluePenguin offer? Got a vendor that doesn’t take cards? We can help. You can use BluePenguin to pay with ACH, digital check and physical check. We can even help a vendor become a card acceptor – just ask us. What kind of business do you have to be to use BluePenguin? We support businesses large and small with both domestic and international vendor payment needs. Use the BluePenguin customer portal to get started fast, or design your own solution using our full-featured API. At every step of the way, you’ll be supported by a team with some of the deepest payments expertise in the business. Are you looking to market smarter business payments to a portfolio of customers or integrate into your own SaaS offering? We’re built from the ground up for partners and integrators. Just ask us! Payment Automation What is accounts payable automation? Accounts payable automation is the digitization of invoices (and the automatic approval and payment of those invoices) that are typically sent from suppliers/vendors. How does payment automation help me pay suppliers faster? When you automate your vendor payments through BluePenguin, and especially with virtual cards, your vendor payments occur the moment they are processed, instead of having to wait for third-party ACH or check mailing systems. How does payment automation reduce errors? Automated payments utilize a technology integration to eliminate the need for manual data entry. This, in turn, reduces human error from keying in information. Virtual Cards Why should we use virtual cards? Virtual cards are faster and more secure than other common ways to pay your vendors. When you pay a vendor with a virtual card, that vendor is paid the moment the card is processed, without waiting for the hassle of ACH processing or check clearing, or the risk of a misrouted payment. With real-time reporting from BluePenguin suitable for upload into your own AP or ERP system, you’ll eliminate friction throughout your accounting processes. How does using virtual cards reduce fraud? BluePenguin’s virtual cards come with robust controls governing who’s allowed to see them, fund them and process them. Unlike checks, they aren’t linked to your business bank account and can’t be stolen from the mail – and unlike ACH, they can’t be sent to the wrong account or used to process more than you’ve made available on the card. How does using virtual cards reduce errors? Virtual cards reduce the labor hours needed for invoice processing and data entry. Since data capture is automatic, and therefore not manually typed, human error is significantly diminished. You can even use BluePenguin’s built-in integrations and tools to upload proof of payment into your AP and ERP system, closing the loop on remittance while letting the system do the work. How do virtual cards generate rebates and what kind of rebate can I expect? Just like consumer cards that generate rewards when you use them, virtual commercial cards from BluePenguin generate a cashback opportunity with every vendor payment. Your rebate opportunity will vary based on factors like the type of cards you use, the kind of vendor payments you make and the average amount of each transaction. But it’s quite common with BluePenguin to see rebates of up to 1.85% and even beyond! MODERNIZE YOUR PAYABLES Better Business Payments Are Within Reach Start using the BluePenguin platform today and say hello to better business payments. Connect Now
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