Some organizations already have an automated payment solution in place. However, most payment solutions are designed to address only a portion of an organization’s payment needs. The Priority CPX solution suite is designed to address all payment needs and provide multiple products and services to meet those needs.
Virtual Card – Buyer sends a payment file of approved invoices for suppliers that agree to accept this payment method. A single- use account number is passed to a supplier to process. The buyer receives a financial incentive via basis points on volume.
CPX Direct – For this solution, the buyer approves an invoice and sends an email notification to the supplier providing the invoice number. The buyer asks the supplier to process the transaction using the Priority card number that has been securely provided (supplier keeps the number on file).
CPX Dynamic Discounting – This solution is similar to an early pay discount. The cost is flexible and depends on the number of days the supplier is paid earlier than their standard payment terms. For example, the supplier may agree to a 1.50% discount in return for payment 30 days early. The discount is pro-rated if the early payment (in this example 30 days) is not met.
CPX ACH (+) – Supplier agrees to a flat basis point (BP) discount with no commitment of early payment. The flat discount rate is negotiated based upon the supplier value proposition.
Proxy Pay – A solution that enables electronic payments in industries that only accept phone or web payments.
CPX ACH ($) – This option is targeted for financial, rent, and any other supplier verticals where there is a flat transaction fee.
Priority One (Commercial Visa) Card – This solution is a plastic-based card program that allows cardholders to make authorized transactions for the purpose of purchasing, travel, and fleet management. The Priority One Card can be used for any or all of these functions and is supported by card and expense management systems.
Check Processing – Outsource manual check processing to Priority.