The Virtual Payables Program is Catholic University’s preferred payment method for suppliers providing goods and services to University. J.P. Morgan’s Single-Use Account (SUA) is an electronic payment solution that is fast, secure, and reliable, significantly reducing the time it takes to receive payment.
How does the Single Use Virtual Card Program work?
A supplier taking part in the program will receive payment in the form of a single-use virtual credit card with a credit limit matching the amount of the corresponding invoice. When a payment is processed, the supplier receives a notification from J. P. Morgan Chase with payment information, including the virtual card number. The supplier can then process the virtual credit card via their merchant terminal just as they would for a physical credit card number.