WellsOne AP Control Payment System

Introduction

As part of our initiative to increase operational efficiencies, Virginia Tech is seeking to pay our suppliers electronically using a single-use Commercial Card Number, also known as a Control Account Number (CAN).  We will deliver the CAN by Secure Email.   This program is being used in conjunction with our commercial bank:  Wells Fargo.

There are many benefits to accepting payments this way, including:

1. Reducing operational costs associated with paper check processing
2. Speeding reconciliation by taking advantage of enhanced remittance information
3. Optimizing working capital by reducing your Days Sales Outstanding (DSOs)
4. Eliminating the need to store sensitive payment information that could potentially be compromised since account numbers provided are valid only for a single use
5. Expanding the use of our B2b business system 
6. Saving time and money by eliminating costly credit approvals, late payments, and collections activity

Since this program uses the commercial credit card network, suppliers must be prepared to accept credit cards and should understand that processing fees are involved. 

Please contact Accounts Payable  (acctpay@vt.edu | 540-231-8615) with questions.