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Spend Net PayablesSM
- Expand your commercial card programs by capturing higher-dollar and more complex transactions that may run through existing processes.
- Eliminate checks while earning rebate dollars to directly impact your bottom line.
- Accelerate the receipt of funds, as compared to remittance by check, for your suppliers.
- Reduce your company’s need to manage secure card storage.
- Submit a large number of accounts payable invoices within a file thereby creating new efficiencies. Unique single-use card account numbers may be assigned to each invoice.
- Upload supplier information through a file. Individual supplier information can also be loaded quickly using a web interface.
- Ensure that suppliers paid for the specified amount with the Exact Pay features of Spend Net Payables, streamlining your reconciliations.
- Use BBVA Compass to provide suppliers with fax and e-mail notification of assigned single-use card account numbers, removing one more responsibility of your company. We also have the ability to add your brand, logo, and contact information to fax and e-mail notifications, helping your suppliers match payment information to the invoice.
- Monitor the entire transaction lifecycle, from payment initiation to authorization approval or decline to settlement.
- Access customizable, real-time reporting through an advanced user interface that allows downloading to numerous formats.
- Simplify reconciliations by having all single-use card account transactions ultimately roll up to the commercial card account management application.
How it Works
- The Company initiates payment using BBVA Compass Spend Net Payables.
- BBVA Compass Spend Net Payables presents a single-use account number to the supplier.
- Supplier initiates transaction using the single-use account number.
- BBVA Compass Spend Net Payables responds to the authorization request and posts to the company’s commercial card account.