Payables & Cash Management

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Topic

    Neha Barnawal
    US Bank Virtual Card Pay
    Topic posted July 13, 2019 by Neha Barnawal, tagged Cash Management, Configuration, Financials, Payables, Setup / Administration, Subledger Accounting, Tip 
    67 Views, 1 Comment
    Title:
    US Bank Virtual Card Pay
    Summary:
    Implementing Virtual card payment in Payables Cloud
    Content:

    Request to share your experience on implementing Virtual Pay Card in Oracle Payables Cloud.

    We understand a new Payment Method, PPP and templates will need to be created for this new payment type.

    Would like to know any challenges/Oracle limitation encountered for using virtual card payments.

    How did you setup card information in Oracle?

    Any input in this regard will be highly appreciated.

     

    Thanks and Regards,

    Neha

     

     

    Version:
    R13-18B

    Comment

     

    • Becky Alvarez

      I don't know of any customers that are actually using these.  I have been asked in the past about if we support this type of payment during the sales cycle by the sales team but usually never goes further than that because the way it looks in order for the you, the customer to benefit, your suppliers have to open an account with the bank in order for you to be able to use the service.  The only thing we have close to what do is treat each card as a bank account and then pay the suppliers as a positive pay file from that bank account so you are just basically sending the payment instructions to the bank with "check" numbers.  If you can get the bank to include those numbers in the statement back to you then you can reconcile the payments.

      Maybe someone else has a better idea or has implemented and had success a different way.