Finance

ePayables Information for Suppliers

Prince William County has implemented the use of a virtual credit card program ("ePayables") through J.P. Morgan Chase.

Adding a virtual card to your payment options has several benefits

• reduces time, resources and cost spent on check-cutting, reconciliation and exceptions
• facilitates and simplifies reconciliation and reporting
• reduces fraud risk compared to other types of payables
• provides financial benefits via rebate revenue and improved working capital

What are ePayables?

ePayables is a virtual card payment solution that is processed like a credit card, streamlining the payment process for both PWC and suppliers.

How does it work?

•  Each payment is given a unique 16-digit account number, which is assigned a credit limit equal to that payment amount.
• This account number is active for only a defined timeframe and is electronically matched to pre-purchase information.
• ePayables is a virtual card payment just like a credit card. Suppliers will receive a 16 digit number which they process like a standard credit card transaction.

What are the advantages of accepting ePayables as a payment method?

• Accelerated payments compared to Automatic Clearing House (ACH) or check payments
• A simplified process that eliminates the cost of processing checks
• No need to store account numbers or other payment information
• Invoice data received with payment via email or online portal

What does it cost?

The acceptance of ePayables comes with no additional costs from PWC, although merchant processing fees apply.

Accepting ePayables payments can help reduce days sales outstanding (DSO), saving Suppliers time and money in the process. They’re paperless, and compared to checks, credit card transactions have been shown to be 31% less costly for suppliers to process.**

**Acceptance Matters — And Now We Know By How Much, MasterCard and Kaiser Associates, 2016

How can Suppliers reduce their merchant processing fees?

• Talk to their current Merchant Processor to see how they can reduce merchant processing fees. Suppliers may also contact other Merchant Processors to negotiate a better rate.
•  Ensure they are processing B2B transactions as e-Commerce rather than "card not present." (Talk to your Merchant Processor (bank) to confirm that you are processing transactions in the most optimal manner.)

What is involved in accepting card payments if I don't already?

This can vary by Merchant Processer but typically the following is required:

• A business bank account
• Underwriting review
• Ability to validate the business (business license)

Suppliers should provide a range of payment amounts that you expect to process so this is taken into consideration when setting the processing limit per transaction.

This is a one-time process. Once a Supplier is set up as a merchant they can receive and process card and/or ePayables payments.

How do I enroll in ePayables for Prince William County?

To enroll in ePayables, simply login to the Supplier Portal and update your payment method to PWC SUA Payment. You may also send an email to [email protected] and notify us that you would like to switch payment method. Please make sure to provide us with the email address where you would like the credit card payment information delivered for your processing. This is also called the “payment notification email address.”

Who can I contact if I have questions about ePayables for Prince William County?

If you would like more information about Prince William County’s ePayables program, please contact us at [email protected]

If you have received an ePayables payment (e.g, a virtual credit card) from us and have questions about how to process it, please call JPMorgan’s virtual card Supplier Support Team at (877) 263-5184 or [email protected].