E-payables options

April 4, 2019

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Q. My bank has a program that enables companies to generate card transactions through a file from their ERP or Accounts Payable system. They offer two types of ePayables cards:  1. Buyer-Initiated Payment (BIP), which allow the buyer to deposit the card payment directly into the suppliers’ merchant account (like an ACH payment); and 2. Supplier-Initiated Payment (SIP) technology, which sends an email with a card number to the supplier, who then processes the transaction to deposit the payment…

Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know. 
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