Version: 1.3

Virtual Card Payments

Create and manage virtual card payments for commercial card programs directly from your application without delays of managing and issuing physical cards.
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Overview

The Virtual Card Payments API issues suppliers with customized data tied to each B2B payment transaction. Account numbers can only be used within your defined parameters that dictate payee, amount and time frame – providing a higher degree of control and security than other payment methods.

Features

  • Create, cancel and close virtual card payments and pass controls, such as credit limit, payment expiration, and Precise Pay (exact match), to prevent unwanted charges.
  • Modify payment parameters, such as credit limit, payment expiration date, supplier email, and custom attributes for a given virtual card.
  • Manage the remittance process with returned card information or provide the supplier email/ID from U.S. Bank Access® Online for remittance.

Workflow

Virtual Payments Workflow

Example use cases

Create a virtual card payment.

Joe is a customer service rep for a company that pays for maintenance on vehicles they lease to their customers (suppliers). To pay for the vehicle maintenance, his company decides to use virtual cards from U.S. Bank. To retrieve them, his company connects to Access Online using the Virtual Card Payments API. Joe receives a call from ABC Oil Shop for a mutual supplier. To retrieve a virtual card to pay ABC Oil Shop, he enters information such as the payment amount and customized fields he would like to see on their reconciliation report. If ABC Oil Shop is listed in their system as Supplier ID 1234, he can add custom attributes to the payment to reflect their Supplier ID.

Close an existing payment.

Barbara reviews her company's daily reconciliation report and notices Supplier XYZ only processed the last virtual card payment for $75 when she expected them to process $100. After speaking with the supplier, she learns they have a $25 credit on their account from a previous overpayment. Barbara and the supplier agree to apply the credit to this payment and the existing virtual card payment can be closed. Her company's AP system is connected to Access Online via API, so when she logs into their AP system and closes out the payment, no further transactions can be processed.

Cancel an existing payment.

When reviewing the past week's virtual payments sent, Angelina noticed two payments for the exact same amount were sent to a supplier. After researching the payments further, she finds one payment was sent in error and needs to be closed. She logs into her accounting system that is connected to Access Online via her API and requests the duplicate payment be cancelled via the API, so the supplier is not paid twice. The system will then validate if an authorization has been made. Thankfully the supplier has not processed an authorization on the duplicate payment, so it can be cancelled.

Requirements

U.S. Bank Corporate Travel Card, One Card or Purchasing Card clients must be set up on U.S. Bank Access Online using Visa or Mastercard networks only.

Restrictions

Visa and Mastercard card networks are supported in USD and CAD only.