Control Your Expenses While Improving Your Efficiency
Build Payment Efficiency Into Your Organization While Reducing Expenses
Banpago specializes in providing Business Payment Solutions to improve the efficiency and security of corporate payments at the lowest possible cost.
While traditional payment methods are familiar, they do have inherent limitations. These limitations can be addressed through our offerings, which include:
- credit card processing
- Employee
Banpago specializes in providing Business Payment Solutions to improve the efficiency and security of corporate payments at the lowest possible cost.
While traditional payment methods are familiar, they do have inherent limitations. These limitations can be addressed through our offerings, which include:
- credit card processing
- Employee expense cards
- purchasing cards (P-cards)
- E-checks
- ACH payments
- Mobile banking services
- Cross-border remittance payments
- Real-time funds settlement
Empowering Employees
EMPLOYEE CREDIT AND PURCHASE CARDS
By providing our complimentary credit cards to employees to cover their expenses, you eliminate time-consuming expense reporting and delayed reimbursements while improving your control over expenses. With our systems, you can control spending, monitor expenses, and set spending limits for every user. We i
EMPLOYEE CREDIT AND PURCHASE CARDS
By providing our complimentary credit cards to employees to cover their expenses, you eliminate time-consuming expense reporting and delayed reimbursements while improving your control over expenses. With our systems, you can control spending, monitor expenses, and set spending limits for every user. We issue you corporate credit to fund the cards, and we provide both virtual and physical cards at no cost. In fact, in most cases, our clients receive a rebate on the spend that goes through the cards, which becomes an unexpected revenue bonus for the organizations!
How do they work?
- An organization applies for a line of credit for a virtual or physical business expense card program.
- The company then sends a card file to Banpago, to register the employee users and any spending limits required.
- Bnapago then generates unique card numbers, expiration date and CVV for each employee (agent, contractor).
- We then send the card to the payee, often via secure email (or via mail if a physical card).
- Once registered, the new cardholder is free to pay for authorized business expenses with their corporate-issued MasterCard.
- Corporate funds are always under your control, Banpago does not handle your funds since we just handle the logistics.
- Billing happens once per month for any expenses generated through the cards.
Every successful financial strategy starts with an excellent client relationship and a comprehensive plan. With the assistance of our banking partners JP Morgan Chase, US Bank, MasterCard, and Visa, Banpago has developed turnkey payment services and a credit facility to supplement those available through your corporate bank to deliver lower costs, more efficiency, and better customer service.
Let's discuss how our commercial credit cards, along with our ACH services, debit cards, mobile wallets, merchant processing and other "off-the-shelf" payment systems from Banpago will improve the efficiency of your payment systems at no cost and, in some instances, become a revenue generator for your company.
CORPORATE PAYMENTS
We develop or modify software for our clients to make the integration of new payment systems quite easy. This is the key to our success and we hope you will take advantage of our banking and payments expertise.
Corporate mobile virtual payments are a practical way for businesses to make payments using virtual cards on mobile devices. Virtual cards are a secure and convenient way to pay for expenses, and they can be used for a variety of purposes, such as paying suppliers, employees, and contractors.
Comprehensive Approach
Comprehensive Approach
While many of the large banks offer a comprehensive set of corporate financial tools, many times they cannot provide the necessary services to make your organization as efficient as it could be in this high-speed global economy. The Banpago team is made up of financial services specialists who work with you to determine your needs which
While many of the large banks offer a comprehensive set of corporate financial tools, many times they cannot provide the necessary services to make your organization as efficient as it could be in this high-speed global economy. The Banpago team is made up of financial services specialists who work with you to determine your needs which allows us to configure and deliver a financial system that works best for your business.
Issuing checks is costly, especially for companies with high transaction volumes. Check processing increases the risk of errors leading to delays, incorrect payments, and the need for rectification. Check fraud is another concern that can lead to financial losses. In addition, checks are slow and are counter to the real-time payment trend growing in importance in this country.
- Virtual payments are on the rise offering greater security, speed and revenue opportunities. Virtual payments eliminate the need for physical checks and manual processes and lead to improved security and reduced fraud. Virtual payments clear almost instantaneously leading to improved cash flow.
Banpago has implemented 1000's of corporate payment systems with our partners Visa and MasterCard and we would like to show you how these systems can deliver these payment efficiencies to your organization.
The Payment Experts
What We Do
Banpago supplies real-time payment systems to organizations to improve efficiency, reduce fraud and at significantly less cost. Once we complete a review of your systems, we will suggest any improvements that can be made using the most up-to-date payment technologies available today. We will also supply custom interfaces to integrate it easily into your systems. There are major differences when using ACH versus commercial cards versus checks and we can show you all the alternatives and their pros and cons so that you can decide on the best solution for your organization. We will assist you in choosing the right payment technology including:
- Prepaid Debit Cards: Virtual and physical for general-purpose issuance
- Commercial Payment Credit Cards for Purchasing (P-Cards), Employee Expenses,
Incentive Payments, etc.
- Corporate Credit Cards with set limits by employees to reduce their dependence on their cash
and eliminating time-consuming reporting and advances/
- ACH Payments to pay anyone with a bank account in almost real-time
- Credit Card Processing to enable your organization to accept credit cards locally or globally
- e-Checks enable you to send checks via e-mail with the recipient able to print it and cash
it immediately.
- Zelle, Vebno and other real-time payment systems can be leveraged for immediate payments.
Join the Payments Revolution
Real-time payments are here and you should be looking at how they can be implemented to speed up your payment systems. Through our extensive Application Program Interface (API), you can connect to the world banks and deliver just-in-time payments while conserving cash with the assurance of on-time payments.
If you are still processing expense reports from your field force or issuing checks for everyday purchases made by employees or contractors, there are much better alternatives. Using virtual debit cards or credit cards with limited spending capabilities makes your people more efficient, eliminating the need for employees or contractors to file expense reports, eliminating the internal processing resources, and the payment processes required. It also delivers customized reporting on every card.
We are also experts in ACH payments and card payments and we can guarantee that we can cut your current banking costs if you do any volume of these payments. With our banking partners, Banpago processes millions of ACH payments for the largest companies in the U.S.
Learn More
Banpago is your payments resource for those challenging requirements that are typically not offered by banks or other companies in the financial payments industry. Offering the most secure payment services (fully PCI4 and SOC2 compliant) from our redundant data centers in the U.S. and Europe, you can count on Banpago to securely handle all of your payment requirements. If you need to speed up your payments, or send money across town or around the world, we can assist you throughout the whole process and deliver a solution that is secure, compliant and cost-effective.
Banking
Banpago is made up of banking professionals who use their technical expertise to create value added services to enhance your current banking relationships. Whether it be a new bank account, e_Checks, streamlining your collections or bill payment or 'all of the above', Banpago will work closely with you to deliver what you need, when you need it and at the lowest possible cost.
Payments
COMMERCIAL CARDS: virtual and physical
The way we conduct B2B and B2C transactions is constantly evolving. In the corporate payments industry. The shift from traditional methods like checks and cash to virtual payments is gaining momentum. While checks have long been the standard, virtual payments offer a compelling alternative with a few advantages.
Virtual cards are free of charge in quantity! In fact, we pay our clients when the cards are used making payments a revenue center instead of an expense headache!
What is a virtual credit card?
Virtual credit cards are digital credit cards that function like physical credit cards—but without the plastic. Rather than providing the same card number to multiple vendors, companies can limit their exposure to potential fraud by generating different 16-digit card numbers and expiration dates for each transaction. With the unique number, the payee can only access the approved amount of funds.
Virtual card uses
There are countless ways companies can effectively use virtual cards, including:
- Accounts payable transactions, such as supplier or invoice payments
- Claims payments, such as insurance reimbursements for cars, home repairs and hotel lodging
- Travel management payments for work-related lodging, airfare and other costs
- Gig economy reimbursements to independent contractors for car rentals, fuel costs and other expenses
How do virtual credit cards work?
After they’re approved for a line of credit on a virtual business card program, companies can issue virtual cards and start sending payments easily via a five-step process:
- The company sends an approved payment file to Banpago.
- Banpago generates a unique 16-digit virtual card number for the payment amount.
- On behalf of the company, we generate a secure email message. The payee then processes the transaction through its bank.
- Once authorized, the payee’s bank and the company’s bank settle the transaction.
- The payment posts on the company’s account, and a reconciliation file is automatically sent to the company’s Enterprise Resource Planning system (ERP) to match bills.
Implementing a virtual card program provides companies with other important benefits, including:
- Controls and expense management: Virtual cards offer detailed reporting to help companies track and analyze their spending patterns in real time. Companies can set spending limits on each virtual card number to better enforce compliance with policies and remain within budget.
- Digitization, automation and working capital: Virtual card transactions automatically feed into accounting systems, which can help streamline bookkeeping and reconciliation. Virtual cards can easily integrate with ERPs, providing valuable information for accounting, travel and expense monitoring and procurement.
- Security: Single-use card numbers limit the exposure of sensitive data compared to card numbers used repeatedly.
Safety and security of virtual card programs
In addition to more effective controls, virtual cards can offer enhanced security features, including:
- Single-use authorization: Virtual cards can be authorized for single or multiple transactions up to a preset limit, reducing the exposure of sensitive financial data to breaches, fraud or misuse.
- Instant issuance and termination: Virtual cards are generated and issued instantly, and they don’t need to be physically destroyed if the number is compromised. Cards can easily be deactivated through the issuing system.
- No physical card: Without a physical card in employees’ wallets and purses, bad actors have fewer touchpoints to compromise sensitive card data.
- Detailed reporting: With real-time payments information, it’s easier to quickly identify and address anomalies or compliance issues.
Payments
Digital Checking gives our customers the ability to email a check to a customer. Whether you send out a few checks per month or 10's of 1000's, the E-check gives you a complete payment solution that significantly decreases costs while increasing the speed of your payments to your customers or suppliers. You simply format the check run and use our systems to send them out via email. Once received, the customer prints out the check and uses it like the one you previously sent them in the mail. It's fast, secure and is much preferred by the consumer receiving the Echeck.
Banpago processes 100's of 1000's of payments per day for some of the largest corporations in the Americas. Whether they be mass payments of bills for corporations, P-Cards for purchasing or expense or incentive payments to employees or contractors, Banpago provides organizations with timely and cost effective payment systems that become the base of your operations and give you the ability to grow knowing that you have a professional payments team working for you to meet your ongoing goals.