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Is this a requirement? Will it affect our Supplier-Customer relationship if we decline?
This is the preferred method of payment and part of an effort to reduce checks and eliminate paper waste and inefficiencies. This will also decrease the time it takes to complete payment and is more convenient than handling a check.
Are there any fees associated with this method of payment?
Payments will be processed as credit card transactions, so your standard merchant fees will apply. There are not any direct fees imposed by MRL or issuing bank.
Is MRL willing to absorb the fees?
It is not MRL’s intention to absorb fees associated with your Merchant Service Provider.
Is it safe to keep the card number on file?
The new payment process keeps that card account with a credit limit of $0 until an invoice has been approved for payment. Once the invoice is approved, the card will be funded with the exact amount due, and you will receive a remittance, which is an electronic confirmation that the card is ready to be charged. This technology makes keeping a card on file completely safe.
Our company policy does not allow us to keep a credit card number on file.
Would your company allow you to maintain only the first 12 numbers on the card? For security reasons the remittance advice, which authorizes payment, only identifies the last 4 digits of the card; upon receipt of the remittance you would have the complete card information in order to process the transaction.
Will the net terms change? How soon will we get paid?
Your terms will remain the same, however, you do gain the float; funds are typically deposited within 48 hours after processing the transaction.
How does this affect our invoicing? What about credits and short-pays?
Your invoicing, current procedures and MRL contacts will remain the same.
What is the MRL account number or billing address?
For security purposes, we do not have account or billing information on file.
What about past-due/outstanding invoices?
Please discuss this with your MRL Accounts Payable contact or the MRL Program Administrator.
Our company requires a signed Card Authorization Form for every credit card transaction; can MRL fax this information along with the remittance?
MRL will contact you with the card information to keep on file. At that time you can provide your internal Card Authorization Form to MRL and maintain that form with the card information. The remittance is your ongoing authorization to process the card for the exact amount indicated.
Will I receive payment for all of our company locations?
Receipt of payment will remain the same. If you currently receive one check for multiple locations, you will maintain one card number on file, and the remittance will identify the appropriate location by invoice number, date and amount. If a separate check is sent to each remit-to address, a unique card number will be assigned for each location.
We have several people who process payments, so I don’t want to give you just one person’s email.
The payment advice can be sent to more than one person if you want to give MRL additional email addresses. Also, some suppliers establish a general email alias that will forward the remittance to several people in your organization.
Can you send the remittance via email and fax?
The remittance can be sent to multiple email addresses or faxed to one number; not both.
I would like something in writing. Can you send me the information to share with my supervisor?
Absolutely. MRL can forward a blank confirmation that includes a sample remittance and contact information, or an MRL Accounts Payable representative could speak directly with your supervisor.
What are the benefits to us of accepting payment via credit card?
If you have additional questions or need further information, please contact us.