Virtual Card Setup
Configure Virtual Card payment programs and supporting payment infrastructure used by Payments Agent.
This setup enables the Payment Options Assistant to evaluate Virtual Card payment opportunities and calculate projected financing benefits.
The setup includes enabling connectivity with the card issuer, configuring card issuer details, creating payment instruments, and defining Virtual Card programs used during payment opportunity analysis and supplier payment processing. For more details refer to Set up virtual cards for supplier payments and Virtual Card Questions and Answers.
Enable Connectivity with Virtual Card Issuers
To start using virtual cards for supplier payments, establish connectivity between Oracle Cloud ERP and your participating card issuer for payment processing, and activate the virtual card functionality. For detailed setup instructions, refer to Enable Connectivity with Virtual Card Issuers.
Configure Card Issuer
After connectivity is established with your card issuer, configure the virtual card program in Oracle Cloud ERP. For detailed setup instructions, refer to Configure Card Issuer.
Configure Payment Instruments
Configure payment instruments to enable virtual card payments. For detailed setup instructions, refer to Configure Payment Instruments.
Configure Virtual Card Program
Use the Manage Virtual Card Programs task to configure your virtual card program. For detailed setup instructions, refer to Configure the Virtual Card Program.
Additional Setup for Ad Hoc Virtual Card Offers
To create ad hoc Virtual Card offers for suppliers who aren't already enrolled in a Virtual Card program, complete the following additional setup.
| Configuration | Requirement |
|---|---|
| Virtual Card financing program | Define and activate a Virtual Card program. The program provides the eligible legal entities, currencies, and payment instruments used to create offers. |
| Payment instruments and funding card accounts | Define the payment instruments, referred to in Payments Agent as funding card accounts, for each legal entity and currency combination that you want to use. If more than one funding card account is available for the same legal entity and currency, the assistant recommends one and asks you to confirm the selection. |
| Virtual Card payment method | Ensure that the Virtual Card payment method for the card program is available. The assistant proposes it as the default payment method when creating the draft offer, and you can change it during the offer preview. |
| Proposed payment terms | Define the payment terms that you can offer suppliers in exchange for Virtual Card payment. The assistant recommends Immediate as the default payment term, subject to your confirmation. |
| Virtual Card PPR template | Define at least one Payment Process Request (PPR) template configured for Virtual Card payment so that accepted offers can be paid using the Payment Execution Assistant. |
| Supplier contacts | Configure supplier contacts as Supplier Portal users with valid email addresses. For more information, see Configure Recipients in Dynamic Discounting Security and Functional Setup. |
| Virtual Card offer email template | A predefined notification template is available for Virtual Card offers. If you need to customize it, use the Oracle Analytics Publisher procedure described for the Dynamic Discounting financing offer email template. |
When a supplier accepts an ad hoc Virtual Card offer, a one-time digital payment account is created for the supplier site if one doesn't already exist. This account doesn't enroll the supplier in the Virtual Card program for future payments.
The payment instrument selected for the offer is also used for downstream payment selection. When you process the accepted installments, the payment instrument specified in the PPR must match the payment instrument recorded on the offer.