B2B Virtual Account Payment Method

Flexible and secure payment method for B2B market segments using virtual accounts.

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Regional Availability

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  • N. America
  • Asia-Pacific
  • Europe
  • CEMEA
  • LAC
VPA

Automate the process of paying suppliers and alternative payment needs

The B2B Virtual Account Payment Method involves a suite of APIs which allows you to use virtual accounts to automate the process of paying your suppliers. Additionally, the B2B Virtual Account Payment Method can enable you to develop flexible solutions across industries and segments. Whether it is a virtual account embedded within the procure-to-pay cycle, a virtual account used for payer-to-provider payments, or a virtual account used in the travel booking process, the B2B Virtual Account Payment Method will streamline the payment process.  

Key Features

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Automate the processing of payments using virtual accounts.

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Support for supplier initiated payments and buyer initiated payments.

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Reduce risk of unauthorized card activities by establishing authorization controls on the account used for payment.

Why Use It?

The B2B Virtual Account Payment Method can benefit both issuers and their commercial clients as well as third parties organizations. It allows additional functionality to be incorporated into payment flows through the use of automation.  The value of the B2B Virtual Account method includes: 

  • Configure buyers for immediate use.
    • Create and manage configuration settings for corporate buyers.
    • Set up account pools for single use accounts.
    • Create and manage funding accounts for pseudo accounts or VPP VANs.   
    • Obtain details for any aspect of buyer setup on demand. 
  • Automate payables processing.
    • Submit payment instructions to meet their payment needs.
    • Automatically generate and distribute supplier payment remittances.
  • Place account controls on purchases.
    • Reduces risk of unauthorized card activities by allowing the supplier to collect only approved invoice amounts.
  • View status of authorization controls.
    • Provides a list of all authorization controls set on an account at any given time.
    • Obtain the current accruals on an account, and what is still available for authorization.
  • Ease reconciliation.
    • Streamlines reconciliation of the payments with the card account settlements as they clear.
    • Generates settlement data and reconciliation files.
  • Offer flexibility with Request Virtual Account.
    • Request an account with additional spend rules.
    • Select from wider range of account controls.

How Does It Work?

The B2B Virtual Account Payment Method system can be used to develop end-to-end payables solutions for automating the process of paying your suppliers, requesting virtual accounts, and setting controls for travel and other use cases. There are two flows in the below section. The first highlights the implementation process of a buyer, and the second highlights the process of paying a supplier.

Buyer implementation and maintenance activities using APIs:
  1.  Set up one or multiple common buyer templates or configurations via the Create Buyer Template API. 
  2. The system provides a unique Template ID for the issuer. 
  3. Create an individual buyer via the Create Buyer API. If you are using a template, you can use the Template ID to populate most of the buyer information. Only buyer-specific information such as buyer contact information and processor information needs to be provided. 
  4. The system creates the buyer in Visa Payables Automation (VPA) and any other applicable downstream systems. 
  5. Then, if you are using VIP pseudo accounts or TSYS VANs, you can add a funding account to the buyer's profile via the Create Funding Account API. 
  6. Create a proxy pool to support your single-use virtual account needs via the Create Proxy API. For VIP pseudo accounts and TSYS VAN-enabled buyers, this action will automatically trigger account provisioning from the token vault.
  7. Update or view buyer details, proxy details, and funding account details through additional APIs. 

 

This section explains high level payment processing flow for clients who are looking for an end-to-end payables solution. Select a subset of APIs based on your unique use case. 

  1. Buyer generates a payment instruction file and sends to you (third party).
  2. You (third party) make API calls for payment processing.
  3. The system sets controls on the account for Supplier Initiated Payments (SIP); it submits Straight through Processing (STP) transactions to acquirer for processing.
  4. The system sends confirmation of payment processing via API response.
  5. The system sends an optional remittance notification and/or an optional file to the supplier.
  6. Supplier collects the payment using the card sent in the payment advise notification for SIP transactions; In the case of BIP (buyer initiated payments or STP) funds are deposited directly to supplier’s merchant account for STP transactions.
  7. The system matches the settlement with the payment.
  8. The system sends the reconciliation data via API or file to you (3rd Party).

APIs Included

Account Management Service

The Account Management web services are used to manage payment controls for existing card accounts, request virtual accounts while setting controls, and manage funding accounts associated with Visa pseudo accounts and TSYS VANs. The end points allow you to do the following: retrieve status of new account requests, view authorization rules, submit virtual card requisitions for an employee, create, update, and view funding accounts, and retrieve security code (CVV2) details of an existing account.

Payment Service

The Payment web services are used for processing payments (SIP and BIP) and sending the payment remittance information to the appropriate suppliers. Additional functionality includes resending payments, retrieving existing payment details, receiving the secure URL to access account, as well as canceling an existing payment(s).

Supplier Service

The Supplier web services allow you to create, update, delete (disable) a supplier you would like to pay.

Single Use Account Pool Maintenance Service

The Single Use Account Pool Maintenance web services are used to manage a pool of Single-Use Accounts (SUAs) linked to a proxy pool. When processing requests using SUAs, the system will pick an available account from the proxy pool and sets the applicable authorization rules. The endpoints enable you to: create proxy pool(s) for a buyer, update details of the proxy, delete unused proxy pools, and get details about an existing pool (e.d. number of available accounts).

Buyer Management Service

The Buyer Management Service provides self-service capabilities that simplify and reduce the implementation process for new VPA buyers (and secondary platforms).  Buyers can be created from scratch or from a pre-defined Buyer Template.   Either way, these APIs help streamline the process and increase the speed of buyer deployments, as well as provide third parties with insight into the buyers’ configurations for troubleshooting. 

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