The University of Vermont recently launched Payment Plus, an accounts payable solution that pays suppliers with automated Visa card payments.
The goal for this initiative is to provide better customer service to our suppliers by providing:
- Accelerated payment and improved cash flow
- Reduced paperwork and streamlined accounts receivables process
- Real-time notifications for each card payment
- Complete remittance detail to support efficient receivables posting
- No changes or modifications to existing card acceptance procedures
As UVM's purchasing card provider, US Bank will contact suppliers directly to discuss, and assist them in enrolling in, the program.