Integrated Virtual Card Payments for Supplier Invoices

Pay supplier invoices with virtual cards to improve payment efficiency and cash flow. The embedded virtual card program supports the new payment method with several participating banks, including Barclays, First Abu Dhabi, HSBC, J.P. Morgan, Wells Fargo, and Westpac. Payables users can set up a virtual card program with their bank, update their supplier profiles, and select invoices to pay using the virtual card. The solution enables organizations to activate card programs quickly with the bank, onboard suppliers that accept cards for invoices, and automate virtual card generation for high-volume payment processing. 

Implementing virtual cards for supplier payments in Oracle Fusion Cloud ERP offers numerous benefits for businesses:

  • Enhanced security to pay invoices with cards, eliminating the need to store suppliers' bank account information.
  • Better cash flow for buyers to leverage credit to pay suppliers, instead of the traditional ACH, wire or check methods.
  • Streamlined payment process that increases efficiency and reduces administrative overhead related to check processing.
  • Improved payment tracking with acknowledgment notification directly in ERP.
  • Global accessibility through several global and regional banks offering embedded virtual card payments.

Steps to Enable

Integrated Virtual Card Payments for Supplier Invoice is in controlled availability and requires a promotion code. To receive the promo code, log a Service Request (SR) and mention Integrated Virtual Card and the bank you want to enable the program for. Oracle Support will provide the promo code information and the relevant Implementation Guide. 

Before You Begin

  • You must establish a virtual card program and related scope of services with a participating bank. 
  • You must be live and using Fusion Accounts Payable to pay suppliers. 

Enabling Payment Connectivity

Once you enter the promo code (provided by Oracle via the SR), you will see the banks listed in the drop-down as part of the Manage Embedded Banking Configurations task. Select your bank and follow the instructions on the screen. For example, if you select Barclays, First Abu Dhabi, HSBC, Wells Fargo, or Westpac, you will check the "Virtual Card" checkbox and upload your security certificates from Mastercard.

If you select J.P. Morgan, check both the "Bank and Bank Accounts" and "Virtual Cards" checkboxes. 

When the connectivity has been established, the status will update to "Completed."

Set Up Virtual Card Program

Most payment setup tasks are already preconfigured, such as the payment method, format, system, and payment process profile. There are a few remaining steps to activate the card program. For example, you will need to enter a primary address for the bank and define program details. Please follow the step-by-step instructions in the Implementation Guide provided by Oracle Support.

Tips And Considerations

  • Let your bank know you want to use the embedded ERP virtual card integration. Be as specific as possible about your desired timeline. This will help the bank allocate implementation resources to help you test the end-to-end payment process in the targeted timeframe.
  • Please go through the steps in the Implementation Guide thoroughly, as it guides you through defining program parameters and updating supplier information. It also explains how to perform an end-to-end test with your bank using a “penny test” to validate connectivity in production.

Key Resources

Access Requirements

You must have the Financial Application Administrator job role to establish connectivity and review all related predefined and automatically configured Functional Setup Manager tasks.