VISA ePayables

Overview

The benefits to our suppliers include:

1. Accelerated receipt of cash, as funds are typically deposited within 48 hours of the credit card transaction
2. No longer being bound by Net 30 payment terms.  Once an invoice is approved for payment, the payment will be made within 7 business days
3. Reduced collection costs associated with lost/misplaced checks
4. More detailed payment information
5. Elimination of check float time

Procedures

1. The supplier will keep a Visa card number on file
2. UF will still be invoiced as usual, but once the invoice is approved for payment, an electronic remittance advice will be sent to the supplier via email or fax, along with approval to charge the card on file for the authorized net amount
3. The remittance advice would include statement-type information such as invoice numbers, date, and amount for invoices

If a supplier would like to receive payments under this program, please call (352) 294-1131, or contact us at epayables-fa@ufl.edu with the appropriate supplier contact.

Last Reviewed

Last reviewed on 03/20/2024

Contacts

Disbursements: (352) 392-1241

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