Nexus Virtual Card Payments

Your suppliers want to be paid securely and quickly. You want to reduce your reliance on costly and time-consuming checks. So, why not pay them with Nexus Virtual Card?

As part of its automated AP platform, Nexus can pay your suppliers – on your behalf – with virtual cards guaranteed by Visa. The cards are sent securely via email and can only be used for a specific transaction.

Fraud risk is diminished, conversations about the “check is in the mail” are avoided, and you’ll cut around 30% fewer checks in just 10 weeks.

What Is a Nexus Virtual Card?

A Nexus Virtual Card is a credit card that exists electronically, not on plastic. It contains a randomly generated, 16-digit credit card number that’s unique to every card. Each Nexus Virtual Card is valid for a single transaction and expires after 60 days. The chances for fraud are minimal.

Nexus will send the virtual card via email to your suppliers who are eligible and opt-in to this payment method. Once received, the suppliers just process the virtual card the same way they process a physical credit card.

Reduce Fraud, Earn Rebates & Reconcile Easily

Lowered risk of fraud

Each Nexus Virtual Card is issued for a specific invoice. It has an expiration date and can’t be duplicated. The recipient can’t be changed either, once it’s sent. After reaching a $0 balance, it automatically expires. This makes the cards far more secure than checks.

Cash rebates

Earn cash back for payments using Nexus Virtual Cards. No limits on the amount you can earn.

Simple reconciliation

Nexus Virtual Card information is passed to your GL for reconciliation. It’s also available in the NexusConnect online portal, which shows current and historical payments. You’ll always know exactly which payments have been processed and which payments are outstanding.

Suppliers Easily Process Nexus Virtual Cards

Your suppliers – painters, repairmen, locksmiths, general contractors, and all others – can easily process their Nexus Virtual Cards. All they do is run the numbers through their Point of Sale terminal and the money is deposited directly into their checking/bank accounts. The funds are guaranteed by Visa. And all the reconciliation details are included in the email about the virtual card, as well as posted in the NexusConnect portal for the suppliers to self-serve.

Suppliers run the numbers through their Point of Sale terminal.

The money is deposited directly into their checking/bank accounts. 

Suppliers Get Paid Fast with Full Remittance Data

Quick payment

Once you approve payments, suppliers get paid in days with Nexus Virtual Card, faster than check and ACH.

Full remittance data

Suppliers receive detailed remittance data with each Virtual Card email, making reconciliation a snap.

No stored data

Suppliers don’t have to worry about fraud, since they’re not storing and securing the financial information of their customers.

Suppliers Can Easily Track Virtual Card Payments

Nexus makes Virtual Card payments very attractive to your suppliers. They’ll have access to a self-service portal, where they can view:

  • Processed and unprocessed payments
  • How many Virtual Card payments they receive in a month/year
  • Invoices paid with Virtual Card payments
  • Which of their customers offer Virtual Card payments

Nexus Virtual Card Community – Real Estate Focused

Because Nexus focuses so heavily on real estate, it already has a large number of suppliers – serving this vertical – who have opted in to the Nexus Virtual Card Payments program. That means many of your suppliers are already on board – and can easily accept virtual cards from you.

Nexus performs continuous outreach campaigns to convert suppliers from check to Virtual Card payments