Frequently Asked Questions

Cash Rebates and Economics

1. Sounds too good to be true. How do we make money paying our suppliers?
Our service pays suppliers with virtual cards, ACH and checks. If your supplier accepts cards, you’ll earn cash rebates just like you would on a consumer credit card. We recommend you read some of our case studies to see how companies across a wide array of industries have benefited from Paymerang. Then, schedule a demo and let us show you how it can work for you.

2. How much can we earn in rebates?
Check out the calculator on our solutions page to get an idea of how much you could expect to earn, or contact us to request a vendor file analysis.

3. Can this help us if we already have a P-Card program in place?
Yes, our solution complements P-Card programs. Use your P-Cards for direct and in-person purchases and let us handle all your invoice payments typically processed by Accounts Payable. We usually achieve a higher gross rebate over P-Cards due to the depth and breadth of our payment capabilities.

4. How long does it take to begin earning rebates?
We pay out rebates on a quarterly basis. You’ll likely earn money in the same quarter you begin processing with us.

5. Do you charge for check and ACH transactions?
Our pricing for transactions depends on the estimated dollar volume of card payments since we share in the cash rebate with you. All of our clients make money using our program and many of them earn $50K or more in annual rebates.

Paymerang vs. Bank-Provided Solutions

1. How is your solution different from what our bank can offer?
We specialize in automating Accounts Payable payments. We enroll suppliers, determine payment acceptance and process and reconcile your payments. Banks often require you to do more of the work, and may require specific payment formatted files and payment method instructions for every payment. In addition, they typically require complex contracts and credit lines.

2. Is there a limit on how much we can pay?
No. All payments are funded and processed immediately with our solution, therefore there is no credit underwriting or limit required.

3. What if we have special terms with our supplier that require us to pay with check or ACH?
No problem. We have lots of special features including the ability for you to override our designated payment method for any specific supplier.

4. Do you offer employee expense reimbursements?
Yes we do, but employees have to register online for electronic ACH payments.

Security and Compliance

1. How do you secure our funds from deposit through to settlement with our vendors?
Your funds are held in an account owned and managed by one of our partner banks (The Bancorp Bank, Member FDIC) and disbursed on the same day that your batch is funded. Virtual Account and ACH payments are funded immediately for processing. Checks are mailed out with the added security of Positive Pay to safeguard against check fraud. We manage reconcilement and follow up on outstanding payments, promptly refunding canceled or unclaimed transactions back to you.

2. Where is our data stored and how is it secured?
All of your data is stored securely on our servers that are hosted at Amazon Web Services. Supplier bank account information is encrypted and tightly controlled. Our system requires two-factor authentication with a hardware security token to verify your identity.

3. Do you have dual signature capability for checks?
We have numerous controls that you can set with our software, including dual approval for all batches. You can also control who is allowed to create batches, add suppliers and change addresses for suppliers. We only pay suppliers who you have approved.

The Implementation Experience

1. How long does it take to begin using your service?
Most clients will be up and running with our service within 30-60 days.

2. What do we need to change in our AP processes?
Nothing really. Our service uses the check file that is created from your accounting software. Our processes align fully with yours, and you retain control over who you pay, how much they get paid and when they get paid. You’ll find that working with Paymerang is simple and seamless.

3. Do we need to buy and load any software to use your service?
Our service is cloud based so there is nothing to buy or install. Just log in online, upload a payment file and fund the batch. That’s it.

4. What accounting systems do you work with? Is there any integration required?
Our software is accounting-system agnostic, meaning it works with whatever legacy systems you have in place. We adapt to your existing systems, not the other way around. See the growing list of accounting packages our clients currently use.

5. How do our vendors enroll in the service?
Many of your vendors are already using our network and receiving payments. For those that aren’t, we’ll contact them by phone and confirm whether they accept Visa. If they don’t accept Visa, we’ll offer them the opportunity to enroll online for ACH.

6. How do we get information on the status of payments back into our accounting system?
Most of our clients simply mark payments as “paid” once they upload their payments. We’ll let you know of any problems or delayed payments.

7. How will our suppliers know that payments are from us?
We customize the remittance output so it will appear as it does on your checks. All payments are clearly marked as sent from your business and our checks can even display your logo.