What is Vendor Enrollment?
A Comdata virtual payments program is nothing without Mastercard accepting vendors. Vendor enrollment is the process of enrolling your vendors into your Comdata program so you can begin sending them virtual cards. With Comdata, you have access to a dedicated in-house vendor enrollment team who will campaign to your vendors, obtaining enrollment, and continue campaigning to any new vendors throughout the life cycle of your program. Use Comdata’s vendor enrollment to maximize the profits of your virtual payments program by enrolling as many vendors for card acceptance as possible.
- First, Comdata will ask for your list of current vendors.
- Then, we check your list against Comdata’s database of enrolled vendors to identify those that already accept Mastercard payments.
- Existing vendors can be auto-enrolled, such as if they currently accept Mastercard payments or have received virtual payments through another Comdata customer.
- Next, a VET specialist places your vendors into specific prospect categories to identify campaign strategies.
- Once you approve, our VET will work with you to reach out to your vendors and get them enrolled.
- Finally, Comdata’s VET will do continuous campaigning for every new vendor added to your business. It is important to send Comdata your new vendors on a timely basis (weekly, monthly or quarterly).
At this point, your account is set up and you are a full-ledged Comdata virtual payments customers. For vendors who do not accept Mastercard payments, we offer Comdata Direct, which allows vendors to manage payments via Comdata’s own proprietary network. ComdataDirect deposits the settlement directly into the vendor’s bank account without then need for the vendor the process the payment.
Contact Comdata today to sign up for vendor enrollment and start your virtual payments program!
Anyone that uses Comdata’s virtual payments solution, such as accounts payable administrators, billing associates, and financial managers.
Key benefits include:
- Guaranteed payment through the Mastercard or ComdataDirect networks.
- Prompt settlement to minimize payment delays, collection costs, and disputes.
- Detailed remittance information, including a list of paid invoices
- Automated reminders to process outstanding payments.