Credit Card reimbursement programs

cpashley

Hi - I just wanted to reach out to get an idea of how many companies are using a payment system to vendor involving credit cards.  If you are using such a program to pay vendors - how many vendors do you have in the program?  And - how did get the vendors to participate?

unknown

We have an arrangement with our bank (JPMorgan Chase) to pay some of our vendors by credit card. Instead of cutting checks, we send the bank a file of credit card payments. We have over 30 vendors participating. The bank has a site where the vendor goes to get final payment information and immediately get paid via credit card. The advantage is obvious: Payment information sent by email, so, quicker payment. I think that the bank helped us contact the vendors, but I'm in IT so I wasn't involved and can't comment.