Nexus Virtual Cards are randomly generated, 16-digit credit card numbers that exist electronically – not on a physical card that can get lost/stolen. Suppliers receive this secure payment method via email and use it to pay a specific invoice (or invoices). Each Nexus Virtual Card number is unique – and can’t be used to pay for anything other than originally intended. It also has a short, 90-day expiry date.

Nexus Virtual Cards are created and emailed to your supplier only after you’ve reviewed and signed off on the associated transaction in Nexus. There, you can see details such as bank account that will issue the payment, supplier name, and amount, so all the details you need to approve are at your fingertips.

You can also have multiple people in your organization review payment transactions if you wish.

Because Nexus Virtual Cards are such a secure payment method (and are so easy to use), Nexus has an extensive, pre-built community of “in network” suppliers. In other words, suppliers who are associated with real estate and already accept Nexus Virtual Card. Many of your suppliers are likely part of this population and can start receiving cards from you on Day One.

Since Nexus Virtual Cards are processed just like any other credit card, they’re suitable for a large swath of suppliers. This is true as it relates to supplier size (specialty, regional, national, etc.) and supplier type (flooring, software providers, HVAC, etc.) If you happen to have vendors who don’t yet accept credit cards, we have a Nexus Virtual Card solution – NexusDirect – specifically for them (See #5).

Often, smaller suppliers (like law firms, or landscaping or snow removal companies) don’t have a Point-of-Sale system on which to process credit cards. For this population, Nexus offers straight-through-processing of payments with its NexusDirect solution.

With NexusDirect, suppliers get paid with a Nexus Virtual Card, but all the processing is done for them. Their funds then get deposited directly into their bank account. There’s no need to buy any equipment or key in any card data.

Both flavors of Nexus Virtual Card are easy to process on the suppliers’ end. The traditional Nexus Virtual Card is sent via email and relies on the supplier entering in the card details on their POS system (just like they would a regular credit card).

The second flavor, NexusDirect, is a straight through processing option. Suppliers who accept NexusDirect don’t have to do any card processing or “swiping” at all. It’s all done on their behalf.