Now’s the Time to Ditch Paper Checks

With everyone working remotely, no one wants to head to the office to cut checks – or receive them. By outsourcing your AP payments to Nexus, you can go electronic without losing control.

Plus, Nexus AP payments:

Are safer than checks
Improve cash flow and supplier relationships
End the paper chase

Just send the payments from your GL to Nexus to process your AP payments

Issue AP Payments in a Few Clicks

With NexusPayments, we’ll pay suppliers on your behalf. You retain 100% flexibility and control – deciding which suppliers get paid by us and which don’t.

Pay on your terms, too. Whenever you’re ready, simply generate a payment file in your property management system/GL and submit it to Nexus.

Your designated approvers can then review/approve the transactions in NexusConnect. The platform will automatically pay your suppliers – in Nexus Virtual Card, ACH, or outsourced Nexus check.

Nexus Gets Your Suppliers on Board Fast

Nexus will tap its large supplier community to find all your vendors who already accept Nexus Virtual Card. We’ll also reach out to the remainder and encourage them to accept this secure payment method.

Any suppliers that can’t accept virtual card will be offered another type of e-payment, so you can stop cutting checks.

Thousands of suppliers across the US accept virtual cards through Nexus AP Payments.

Thousands of suppliers working for real estate companies use Nexus payments. Additionally, many of your vendors already accept Nexus Virtual Card and can accept it from you on Day 1.

Nexus AP payments has no set asides and doesn't hold your funds.

Forget Set Aside Accounts and Hidden Fees

Nexus processes payments immediately – and directly from your own bank accounts. We do not hold funds for days/weeks – or charge interest – before sending money to your suppliers.

It's easy to change banks with Nexus AP payments

Add New Bank Accounts
with Ease

Just add your bank details in NexusConnect. We’ll ensure the account has been set up correctly and you can issue payments from the new bank account shortly.

Follow your AP payments online. See virtual card, ACH and check transactions.

Check Payment Status
at a Glance

View payment status in NexusConnect 24/7. Suppliers can also use NexusConnect to see where payments stand at any time.

Reconcile Your AP Payments with Ease

Whether Nexus pays your suppliers with virtual card, ACH, or check, it’s simple to reconcile your bank statements. Just login to NexusConnect and match debit totals with debits on your bank account statements. Drill down to see individual transaction amounts. You can cross-reference with your GL.

If Nexus issues checks on your behalf, we’ll use the same check numbers that are in your GL. No cross-referencing or extra steps needed.

Just log in to NexusConnect and click the Bank History page.

  • Easily filter by Bank ID, Debit Type, or Status (A).
  • Match Debit Total (B) with debits on your bank account statement, drilling down to see individual transaction amounts (C).

Cross-reference transactions with your GL.

Lower Your Risk of Fraud

Nexus Virtual Cards offer exceptional fraud protection. They’re funded for a specific amount and cover a pre-designated transaction (or transactions). They also expire in 60 days. So, even if a virtual card were to fall into the wrong hands, it’s not likely to be misused.

In a recent survey by the Association of Financial Professionals, virtual cards made up only 3% of targeted payment fraud, versus 74% of checks.

Virtual cards made up only 3% of targeted payment fraud versus 74% of checks

*2020 AFP Payments Fraud & Control Survey – Companion Webinar.

Build Your Supplier Relationships

Payment Is Fast

Nexus processes payments immediately. Electronic payments reach suppliers in just a few days.

More Visibility

Suppliers can track card payment status online 24/7 using the NexusConnect online portal.

Guaranteed Payment

Nexus virtual cards are backed by Visa so funds are guaranteed. You’re covered even if the supplier’s system is hacked.

Improved Reconciliation

Suppliers get complete remittance details in each virtual card notification email. They can also see details in NexusConnect.

CASE STUDY

Shaving Payments Time From 12 Hours to 1 Hour Per Week

Tanger Factory Outlet Centers, Inc., one of the nation’s top outlet center developers and operators, had to cut 1,500 checks each month to pay all the vendors associated with its 38 outlet centers across 20 states. This was an enormous undertaking, especially for a lean 2.5-person AP team.

Read how Tanger:

  • Reduced its time to cut checks and reconcile payments from 12 hours a week to under an hour
  • Provided suppliers with easy tracking

Tanger Outlets turned to NexusPayments 

Tanger Outlets Shaved Their AP Payment Processing Time From 12 Hours to 1 Hour Per Week

AP Payments Resources

Automated Electronic Payments – Come Out Ahead

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Outsourcing Payments? Here’s What You Need to Know About Virtual Cards

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Outsourcing Payments? Here’s the Data on Virtual Card Acceptance

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