Supplier/Vendor FAQ

          Payables Automation Initiative
          Supplier FAQ

         Program Strategy

  1. Why has Missouri State University decided to pay suppliers by Visa card payments?
    Our goal is to optimize our commercial card program in order to improve process efficiency and working capital management, as well as reduce the cost of processing paper checks.  This initiative also supports our green initiative by reducing our use of paper.
    Suppliers benefit from this strategy as well, since Visa payments provide consistent, predictable payments and allow for streamlined processes.
  2. What are the benefits to suppliers of receiving payment by Visa payment solutions instead of check or other payment methods?
    More and more, suppliers are coming to realize that they can enjoy significant, tangible savings from accepting Visa payment solutions from their customers, including:
    -Working Capital Management: As an incentive, Missouri State University is agreeing to pay card accepting suppliers on approval of invoices, which may result in a significant acceleration of payment.
    -Process Efficiency: Suppliers can reduce internal processing and transaction costs by eliminating paper-based processes, including check processing and associated reconciliation efforts.
    -Customer Acquisition and Retention: By allowing MSU to pay by Visa Commercial Card, suppliers provide a valued service which may be a determining factor in becoming or remaining a preferred supplier. Additionally, as other customers seek to concentrate spend, suppliers who offer flexible and beneficial payment solutions may receive increased revenue and strengthen their competitive advantage.
  3. Are there fees associated with receiving payment by Visa card payments?
    The standard processing fees administered by a supplier’s merchant acquiring bank will apply. We encourage suppliers to review their merchant account agreement and discuss ways to achieve the most favorable rates with their bank. Additional programs may be available to help reduce these fees based on the transaction size, level of data provided, and frequency of transactions processed.

         New Payment Process

  1. How will card payment change Missouri State's  current purchasing and payment process with suppliers?
    The current processes for requisitions, purchase orders and invoices will remain the same. The only change will be to the payment process. Upon enrolling, suppliers will be directed to access a secure website to obtain the credit card account which you will use for future payments. In the future, suppliers will receive an automated remittance notification email alert of the amount to charge and other pertinent details of the transaction. The new process will allow both suppliers and Missouri State to streamline operations.
  2. What is the process for being paid by Missouri State’s Payables Automation program?
    Upon enrolling, suppliers will be directed to access a secure website to obtain the credit card account which suppliers will use for future payments. In the future, suppliers will receive an automated remittance notification email alert of the amount to charge and other pertinent details of the transaction. We ask that suppliers include the appropriate invoice numbers and/or purchase order numbers when processing the transaction.
  3. What is the CVV2 value?
    Proof that the credit card is in the right hands – The 3-digit security code shown on the back of a Visa card lets suppliers know that the card is in the right hands when the customer is not present during the transaction. The supplier’s Point-of-Sale device/software may require this value to be entered.

         Additional Help

  1. What do suppliers need to do to enroll in this program?
    For those suppliers who currently accept credit card payments, they can begin this new payment arrangement by completing the below information (include multiple remittance addresses as appropriate) and send it to the MSU Enrollment Team at MSUVISAPAYABLES@MissouriState.edu or by fax at 417-836-6583:

Company Name:

 

Remittance Address:

 

City:

 

State:

 

Zip:

 

Contact Name:

 

Contact Title:

 

Contact Phone:

 

Remittance Email*:

 

CVV2 Required:

[Yes] [No]     

*This is either a Receivable Department email or designated person to process card transaction payments.

  • Suppliers will then be provided with a Visa Commercial Card account number to use for payment. In the future, the supplier will receive an email notification indicating the charge amount and the remittance details for each payment. We also ask that suppliers include the appropriate invoice number(s) and/or purchase order number(s) when processing the transaction for our reference.
  • For those suppliers who are not currently set up with a merchant account, to arrange for basic Visa card acceptance, they should contact their corporate banking service provider or contact our preferred credit card service provider, UMB Merchant Services. UMB is a bank card acquirer that specializes in business-to-business transaction processing. Suppliers can reach a UMB Merchant Account Representative at 1.800.821.2171. Once this step is completed suppliers should contact the Missouri State University Enrollment team.
  1. Where can more information about accepting Visa card payments be found?
    Comprehensive information is available on Visa.com at https://usa.visa.com/support/small-business/regulations-fees.html. Merchants will find materials related to card acceptance guidelines, Visa operating regulations, and Visa interchange fees.
  2. Who do suppliers contact with additional questions?
    For enrollment support or questions about the MSU Payables Automation program, please contact us at MSUVISAPAYABLES@MissouriState.edu
    For questions about payment status or to speak with a MSU representative, please contact 417-836-5632 or email MSUVISAPAYABLES@MissouriState.edu