Why should I pay supplier invoices with virtual cards in Oracle Cloud ERP?

There are several business benefits to use credit to pay suppliers, instead of the traditional cash-based payments like ACH, wire or check.

Customers can optimize their cash flow by paying suppliers on agreed terms and leveraging credit lines and paying the card issuer later. Many card issuers also offer clients financial rebates on virtual card transactions, turning the accounts payable department from a cost center into a revenue center. Globally, as payments are digitized and automated, more suppliers are accepting card payment on invoices because they can receive cash sooner and securely without providing buyers with their account information. Lastly, by issuing virtual cards at the request of their suppliers, buyers are strengthening their supply chain ecosystem.

In the past, customers needed to build custom integration with their card issuers and the ERP application. The embedded banking solution lets you easily configure the virtual card functionality in Oracle Cloud ERP as part of the standard invoice-to-payment process, as long as you've a card program in place with a participating card issuer. You can adopt the solution without a heavy IT lift or costly SI implementation. Also, Oracle and our partners will maintain the connectivity and improve the solution like other ready-to-use functionality.