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Considerations For Using Corporate Cards for B2B Vendor Payments

I’m not going to try to convince you to move 100% of your vendor payments onto your corporate card because it just won’t happen. Your vendors will not always accept this form of payment, your credit limits may not accommodate very large payments, etc. But there are a few benefits let’s discuss.

Rebates

Did you know you could get paid to make the same payments you are already making today? Virtual cards are a one-time use credit card that is tied back to your corporate card. This provides an extra layer of security since you are not distributing your corporate card information but you are still receiving the cash rebates from using this form of payment.

Security

Other forms of payment, such as check, are more susceptible to fraudulent activities both internally and externally. External parties can replicate the check stock and internal parties can access check stock. Corporate credit cards offer a layer of security by encrypting or tokenized the card information. They are also one-time use for a set amount and automatically expire upon use.

Pay 20-30 days out

Making your payment to the vendor doesn’t change. You submit before or on the due date indicated on your bill. However, by using your corporate credit card for payment, you give yourself some float for cashflow. The time between the card being processed and payment of your credit card bill allows this to happen.

Pay exactly on due date

Regardless of cashflow, your ‘loan’ provided by your corporate credit card better positions you to make your payments exactly on-time. Sometimes you may need to make a payment immediately or have a looming due date before your scheduled payment run and using your corporate card ensures business continuity.

Last week MineralTree announced our partnership with American Express to make it even easier for you to make B2B vendor payments using your corporate card. Read more about it here: https://www.mineraltree.com/about-us/press-release/american-express-mineraltree-announce-partnership-help-streamline-b2b-payments/

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