Preferred Payment Method: Payment Plus
This initiative, in partnership with U.S. Bank, is an important part of our procure-to-pay process. We encourage campus partners to promote the benefits of Visa card payments to suppliers with whom you interact with today, as well as with any new suppliers you engage.
Payment Plus is UC Merced’s preferred electronic method for issuing payments to suppliers. Payment Plus uses a Visa card program to offer our suppliers a payment solution designed to provide fast, secure payment receipt while improving efficiency and reducing the cost of processing paper checks.
Payment Plus is managed and guaranteed by U.S. Bank, offering suppliers fraud protection, and an option for immediate payment. By adding the Payment Plus program, UC Merced is taking a proactive approach to protect suppliers’ banking information, reducing the risk of fraud from supplier impersonation.
The processes for purchase requisitions and invoices are unchanged by Payment Plus. Only the payment process changes. Suppliers are emailed a notification for each payment instructing them of the card account, the amount to process with their point-of-sale device/software, and other pertinent transaction details. As an incentive, UC Merced updates payment terms for participating suppliers to pay them upon approval of invoices, possibly leading to a significant acceleration of payment.
