Message from the Finance Team
We are thrilled to share the news that Carlow University is partnering with Finexio, leveraging their expertise in commercial payment execution. As part of this partnership, we have chosen Finexio’s Virtual Card as our preferred payment method resulting in expediting cash receipts to our valued suppliers.
Payment by virtual card will effortlessly integrate with your current card payment processing system, enhancing your organization’s cash flow. With payments settling within an average of 1-2 business days, this streamlined process is further fortified by advanced security features, effectively reducing the risks associated with check and ACH fraud.
For your convenience, we have provided several links below to various resources regarding this program and outreach on our behalf by Finexio. These links include FAQs and the Executive Letter of Authorization already sent to our valued suppliers. If you have any questions, please contact Finexio’s Help Center, and their team will be pleased to assist you.
Best regards,
Carlow Finance Team
Finexio’s Supplier Management team will be reaching out to you to enroll your organization into our electronic payments program and answer any questions you may have on that process.
Suppliers should receive a welcome email from Finexio to inform you of our move to electronic payments. Benefits include access to Finexio’s Supplier Portal, where you can view funding stages on your incoming invoices and gain access to the Finexio Customer Operations team for additional payment support.
Finexio will call your phone number on file to answer any questions you may have and enroll your organization into electronic payments.
For Finexio Express and ACH enrollments or bank changes, completion of security forms through the DocuSign platform is mandatory. This ensures that only validated contacts within your organization can make changes to your profile. Ensuring changes are made only by those authorized on the bank accounts provided.
Faster Payment Settlement – Electronic payments can be issued quickly, securely and delivered electronically, allowing faster payment processing and access to funds, much quicker than via traditional paper check.
In addition to faster settlement, electronic payments limit the risk of late payments and eliminate the potential of lost checks.
Transaction details are provided in both directions, helping to ensure delivery, acceptance, and reduce the risk of fraud.
Virtual cards are 7x less likely than paper checks to incur the risk of payment fraud. ePayment methods offer multiple ways of securing payments such as payment tokenization, encryption, SSL and more.