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Check Elimination Overview

Simply and efficiently reduce 75% of checks in 90 days

 

Check Elimination

Manage Invoice Payments in an Easier and More Cost-Effective Way, While Adding a World-Class Virtual Card Program.

Global Exchange's Check Elimination Solution is the leading authority in electronic payment enablement solutions through our Comdata virtual Mastercard® program. It affords companies the flexibility of remitting payment to vendors through either a highly secure virtual card or ACH payment. Check Elimination is an electronic enablement platform that leverages virtual card technology, or ACH payments, and flexible remittance options to guarantee vendor participation. The elimination of 75% of your checks is guaranteed within 90 days.

Our Check Elimination Solution:

  • Reduces Costs While Turning Your AP Department into a Profit Center Global Exchange prioritizes card-based payment adoption to maximize conversion to electronic payments. By incorporating ACH-based payments in conversion programs, we accommodate suppliers who cannot, or will not, agree to accept card payments. APS implements an electronic payment strategy which combines highly secure virtual card and ACH payments to deliver the largest possible cost reduction in payment processing.
  • Simplifies the Transmission from your AP System into our System Our APS solution is designed to work seamlessly with your existing accounts payable system and related processes. You simply transmit a payment file to us when you are ready to make payments and our system links vendors in your payment file to vendors with a profile in the APS Network.

 

Check Elimination Additional Highlights:

  • Revenue share paid on card payments.
  • All check costs are eliminated.
  • Utilizing card first, check elimination automatically generates and delivers one-time use card numbers to suppliers when payments are initiated.
  • Utilize ACH Backstop as a Vendor Alternative for card payments.
  • Monthly vendor cash rebates are shared on card-based payments.
  • Utilize your existing accounts payable system and processes for quick implementation.
  • Deliver remittance to vendors in their preferred format and through their preferred delivery channel.
  • Utilize existing bank relationships.
  • Own and maintain vendor-related data via the Global Exchange network at any time.
  • 75% of checks are converted to electronic payments within 90-days of implementation in most programs.
  • Check fraud and cost is eliminated.


 

About Comdata Virtual Card

 

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