Central Michigan University offers its vendors the opportunity to receive payment using the VISA card platform. This allows our vendors to receive payment through this method in the same manner as other credit card purchases. We are encouraging our vendors to enroll in this payment method due to the benefits it offers. The benefits to our vendors are expedited receipt of cash; eliminating lost or misplaced checks; and increased security just to mention a few.
There are two enrollment options available through the program that are available based on the vendor’s needs. The options are listed below:
Option 1 (desired): Enroll in the single use card program where you will receive a single use card number through an email authorization and remittance advice each time a payment is issued. Payments are issued based on terms stated on the invoice or the purchase order if applicable.
Option 2: You initiate taking the payment. Provide a point of contact within your organization who will be able to keep the VISA card account number on file. Upon receipt of an email remittance advice, you will be authorized to charge the VISA card in the same manner you would process other card transactions. Payments are issued based on terms stated on the invoice or the purchase order if applicable.
Beginning in July 2016, a vendor choosing not to be paid via this method will be charged a 1.5% discount for each check issued. This discount will be automatically deducted from the payment prior to issue.