ePayables, also known as virtual payments, is a growing trend for business-to-business companies. Imagine turning your accounts payable system into an efficient, streamlined operation that establishes a controlled payment cash flow to your suppliers, all while reducing direct costs and improving your cash management. It is possible!
ePayables by definition is a virtual credit card payment. Similar to traditional physical credit cards these virtual cards have a 16-digit card number, an expiration date and a card verification code (CVC). The key here is this payment type is ‘virtual’ or ‘electronic’ or known as a no-card-present type of payment.