SupplierPay FAQ

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Program Strategy

  1. Why has St. Lawrence University decided to pay suppliers by Visa card payments?
  • Our goal is to optimize our commercial card program in order to improve process efficiency and working capital management, as well as reduce the cost of processing paper checks.
  • This initiative also supports our green initiative by reducing our use of paper.
  • Suppliers benefit from this strategy as well, since Visa payments provide consistent, predictable payments and allow for streamlined processes.
  1. What are the benefits to suppliers of receiving payment by Visa payment solutions instead of check or other payment methods?
  • More and more, suppliers are coming to realize that they can enjoy significant, tangible savings from accepting Visa payment solutions from their customers, including:
  • Working Capital Management: As an incentive, St. Lawrence is agreeing to pay card accepting suppliers on approval of invoices, which may result in a significant acceleration of payment.
  • Process Efficiency: Suppliers can reduce internal processing and transaction costs by eliminating paper-based processes, including check processing and associated reconciliation efforts.
  • Customer Acquisition and Retention: By allowing St. Lawrence to pay by Visa Commercial Card, suppliers provide a valued service which may be a determining factor in becoming or remaining a preferred supplier. Additionally, as other customers seek to concentrate spend, suppliers who offer flexible and beneficial payment solutions may receive increased revenue and strengthen their competitive advantage.
  1. Can suppliers receive payment by ACH instead of card?
  • Our goal is to expand our commercial card program as much as possible in order to optimize the benefits we can achieve from process efficiency, working capital management, and spend visibility. As such, our preferred method is a Visa card payment.
  1. Are there fees associated with receiving payment by Visa card payments?
  • The standard processing fees administered by a supplier’s merchant acquiring bank will apply. We encourage suppliers to review their merchant account agreement and discuss ways to achieve the most favorable rates with their bank. Additional programs may be available to help reduce these fees based on the transaction size, level of data provided, and frequency of transactions processed.

New Payment Process

  1. How will card payment change St. Lawrence’s current purchasing and payment process with suppliers?
  • The current processes for orders and invoices will remain the same. The only change will be to the payment process.
  • Suppliers will receive an automated remittance email for each payment. These emails will contain a link to a secure web portal where suppliers will obtain a unique Visa credit card account number, the amount to charge and the other pertinent details of the transaction needed to process and reconcile payments. The credit card account will change with each payment so this information will not need to be kept on file.
  • The new process will allow both suppliers and St. Lawrence to streamline operations.
  1. What is the process for being paid by St. Lawrence’s SupplierPay program?
  • Suppliers will receive an automated email notification for each payment. These emails will contain a link to a secure web portal where the supplier will obtain the unique Visa credit card account number, the amount to charge, and the other pertinent details of the transaction needed to process and reconcile payments. The credit card account number will change with each payment so this information will not need to be kept on file.
  • Follow this link for more information about the SupplierPay activation and payment process.
  1. What is the CVV2 value?
  • Proof that the credit card is in the right hands – The 3-digit security code shown on the back of a Visa card lets suppliers know that the card is in the right hands when the customer is not present during the transaction. The supplier’s Point-of-Sale device/software may require this value to be entered.

Additional Help

  1. What do suppliers need to do to enroll in this program?
  • For those suppliers who currently accept credit card payments, they can begin this new payment arrangement by completing the enrollment form via the link below:

Suppliers will then receive an automated email notification for each payment. These emails will contain a link to a secure web portal where the supplier will obtain a unique Visa credit card account number, the amount to charge, and the other pertinent details of the transaction needed to process and reconcile the payments. The credit card account number will change with each payment so suppliers will not be required to keep this information on file. We also ask that suppliers include the appropriate invoice number(s) and/or purchase order number(s) when processing the transaction for our reference.

  • For those suppliers who are not currently set up with a merchant account, to arrange for basic Visa card acceptance, they should contact their corporate banking service provider or contact our preferred credit card service provider, M&T Merchant Services. M&T is a bank card acquirer that specializes in business-to-business transaction processing. Suppliers can reach an M&T Merchant Account Representative at 800-897-6311.
  1. Where can more information about accepting Visa card payments be found?
  1. Who do suppliers contact with additional questions?
  • For enrollment support or questions about the St. Lawrence SupplierPay program, please contact St. Lawrence’s purchasing department at purchasing@stlawu.edu.
  • For questions about payment status, please contact Carol Palmer or 315-229-5570.