Skip to Content
SVB
Silicon Valley Bank
SVB Private
SVB Securities
SVB Capital
Region:
  For a better web experience - please upgrade your browser to Google Chrome  
 
Silicon Valley Bank
Products & Services
Business Banking

Complete your banking transactions with ease and security.

  • Business Checking
  • Business Credit Cards
  • Online Tools & Integration
  • Fraud Prevention
  • Lending
Global Business Solutions

Get customized services to help support your global business.

  • Global Banking Services
  • Global Payments
  • Foreign Exchange Risk Services
Liquidity Solutions

Strategize with our financial experts to help you achieve your business goals.

  • SVB Asset Management
  • Deposits & Investments
Global Fund Banking
Leverage SVB's 30+ years experience in banking top funds.
  • PE Fund Banking
  • VC Fund Banking
Our Expertise
Our Business Expertise
  • Business Stages
  • Startup Banking
  • Venture-Funded
  • Corporate Banking
  • Investors
  • Private Equity
  • Venture Capital
  • Emerging Managers
  • Corporate Venture
Industry Expertise

Our bankers have years of real-world experience to provide guidance across a number of industries.

View All Industries
  • Our Sector Knowledge
  • Cleantech and Sustainability
  • Consumer Internet
  • Enterprise Software
  • Fintech
  • Hardware & Frontier Tech
  • Investors
  • Life Science & Healthcare
  • Premium Wine Banking
Trends & Insights
Trends & Insights

SVB research, blogs and webinars to give your business crucial advantages in decision-making.

Reports Global Fund Banking Outlook Report Healthcare Investments and Exits State of the Markets Report State of the Wine Industry Report Family Office Report View All Reports
Perspectives and Insights Foreign Exchange Advisory Business Growth Market Insights Industry Insights Private Bank Startup Insights View All Insights
SVB Webinars

Register for upcoming live webinars and access recorded webinars to learn about the latest trends for your business and industry.

View Webinars
About Us
SVB Facts

For over 35 years, SVB has helped businesses grow and thrive across the innovation economy

Living Our Values

SVB's values guide our actions, from our approach to supporting small businesses to community engagement to our ESG reporting.

Contact Us

Let SVB experts help your business with the right mix of products, services and strategic advice.

Resources
  • Locations
  • Leadership
  • Newsroom
  • Investor Relations
  • Client Support
  • Careers
  • Success Stories
  • Access to Innovation
Investor News: SVB Financial Group Announces 2022 First Quarter Financial Results Learn more  
PPP
Become a client
Login
SELECT A SERVICE FOR LOGIN
SVB Online Services
SVB Online Services Private Bank Private Banking – Legacy SVB Private Banking – Legacy Boston Private Investments SVB Capital Limited Partners SVB Asset Management Reporting U.S. Bank Pivot Credit Cards Cardholders Administrators Private Bank Elite Card
  • Need help? Client Support
  • Not a client? Apply Now
Search SVB
Products & Services Our Expertise Trends & Insights About Us PPP
Become a client
Login
Products & Services
Business Banking
Business Checking Business Credit Cards Online Tools & Integration Fraud Prevention Lending
Global Business Solutions
Global Banking Services Global Payments Foreign Exchange Risk Services
Liquidity Solutions
SVB Asset Management Deposits & Investments
Global Fund Banking
PE Fund Banking VC Fund Banking
Our Expertise
Our Business Expertise
Business Stages Startup Banking Venture-Funded Corporate Banking Investors Private Equity Venture Capital Emerging Managers Corporate Venture
Industry Expertise
Cleantech and Sustainability Consumer Internet Enterprise Software Fintech Hardware & Frontier Tech Investors Life Science & Healthcare Premium Wine Banking
Trends & Insights
Reports
Global Fund Banking Outlook Report Healthcare Investments and Exits State of the Markets Report State of the Wine Industry Report Family Office Report View All Reports
Perspectives and Insights
Foreign Exchange Advisory Business Growth Market Insights Industry Insights Private Bank Startup Insights View All Insights
SVB Webinars

Register for upcoming live webinars and access recorded webinars to learn about the latest trends for your business and industry.

View Webinars
About Us
SVB Facts
Living Our Values
Contact Us
Resources
Locations Leadership Newsroom Investor Relations Client Support Careers Success Stories Access to Innovation
Select a Service for Login
SVB Online Services Private Bank Private Banking – Legacy SVB Private Banking – Legacy Boston Private Investments SVB Capital Limited Partners SVB Asset Management Reporting U.S. Bank Pivot Credit Cards Cardholders Administrators Private Bank Elite Card
Close
  • Select a Region
    • North America
      • US Main
        Canada (EN)
        Canada (FR)
    • Europe and Middle East
      • Israel (EN)
        United Kingdom
        Denmark
        Germany (DE)
        Germany (EN)
    • Asia
      • China (中文)
        China (EN)
Find anything about our product, search our documentation, and more. Enter a query in the search input above, and results will be displayed as you type.
Searching... Loading content
    Searching... Loading content
    People
    • PAYMENT MANAGEMENT

    Want to Pay Suppliers by Credit Card? 3 Ways to Get to “Yes”

    • March 26, 2018

    Savvy businesses know the benefits of paying their suppliers by credit card: stronger cash flow, easier financial management and reduced overall expenses. Maybe you’d like to make the switch in your own company — but first, you need buy-in from your vendors.

    While your banker can help facilitate card acceptance through a supplier enablement process, you don’t have to sit on the sidelines. Do your part by understanding how the change can help your suppliers, and use this information to get them on board.

    Highlight the three key points below to drive home the potential payoffs.

     Want to Pay Suppliers by Credit Card? 3 Ways to Get to “Yes”

    1. They get their money — quickly

    Though processing fees for credit card payments can be as high as 5%, you can ease suppliers’ fears by offering to shorten payment terms.

    For example, instead of paying by check 60 days after invoicing, offer to pay in 14 days by card. Getting funds faster significantly boosts suppliers’ working capital and lets them use the funds immediately. With shorter payment terms, the overall value of accepting cards may offset the fees.

    What’s more, your supplier will typically receive payment in 24 to 48 hours — faster than it would take to receive a paper check, or even a traditional ACH payment. Though same-day ACH payments offer a faster turnaround, there are costs to initiate these payments, and they don’t always provide the rich detail included in credit card transactions.

    2. Their accounts receivable is simplified

    Credit cards make it far more efficient to accept payments and reconcile accounts when compared to other forms of payment. The remittance detail provided with credit card transactions can make it faster and easier to match these payments with other records. Because the transaction data associated with card payments can also be pulled into companies’ financial systems, analysis and reporting also become easier.

    Accepting credit cards can result in even greater time savings for suppliers that handle check payments manually. Opening envelopes, scanning checks, and other manual steps can eat up time and costs that could be put to better use. Survey data from the Association for Financial Professionals shows the median cost for receiving check payments is at least $1.57 per check. Accepting credit cards may allow your suppliers to focus on more strategic efforts.

    3. Their payment process is safe and reliable

    Paper checks are the payment type most frequently targeted for fraud: three-quarters of companies experience check fraud or attempted check fraud, according to a 2017 report from the Association for Financial Professionals. While your suppliers aren’t at risk of financial losses if fraudsters compromise your checks, they will have to wait for you to deal with the theft and repay them.

    Virtual card numbers — unique, 16-digit numbers generated for specific transactions — deliver superior control, security and speed compared to more traditional forms of payment. This is because these numbers can be used only for transactions that match pre-set criteria. This helps to ensure a faster, safer payment process.

    A more secure and streamlined process can strengthen the relationship between you and your suppliers. Your bank can help with credit card acceptance by reviewing your vendor list, contacting suppliers and explaining the benefits. Whether or not you use such a service, you should be able to explain to suppliers how credit card payments will pay off for them.

    To learn more about supplier enablement services available via SVB’s Commercial Card program, contact me or your SVB Global Treasury and Payments Advisor.  

    Related Content

    Check out our series on how you can optimize your company's payments tools and processes on SVB's Payments Trends & Insights page.

    This material, including without limitation the statistical information herein, is provided for informational purposes only. The material is based in part upon information from third-party sources that we believe to be reliable, but which has not been independently verified by us and, as such, we do not represent that the information is accurate or complete. You should obtain relevant and specific professional advice before making any investment or other decision. Silicon Valley Bank is not responsible for any cost, claim or loss associated with your use of this material.

    Payment Management

    Related Insights

    • Payment Management Optimize accounts payable with VCNs during COVID-19 September 25, 2020
    • Payment Management Transform payment processing with VCNs September 25, 2020
    • Payment Management How to pick the right corporate card for your business
    • Payment Management Will your business card keep up with your growth — or slow you down? Liam Fairbairn
    • Payment Management Are online payments giving you growing pains?
    • Payment Management Think you don’t have an international e-commerce business? Think again. Jonathan Fuller
    • How We Help Clients
    • Trends & Insights
    • About Us
    • Contact & Support
    Subscribe to newsletters
    Sign up now
    United States
    How We Help Clients
    • Starting Up
    • Venture-Funded
    • Corporate Banking
    • Investors
    • Private Banking & Wealth Advisory
    • Industries We Serve
    Trends & Insights
    • SVB Signature Research
    • SVB Perspectives
    • Success Stories
    • Startup Insights
    About Us
    • Careers
    • Living Our Values
    • Newsroom
    • Investor Relations
    • Leadership
    Contact & Support
    • Locations
    • Client Service & Support
    • Vendor Information
    • Contact
    • Fraud Prevention
    • Terms of Use
    • Privacy
    • Cookies
    • Help for Homeowners
    • Corporate Governance
    • Equal Credit Opportunity Act Disclosures
    • FDIC
    • Manage Email Preferences
    • LIBOR Transition
    © 2022 SVB Financial Group. All rights reserved. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq: SIVB). SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, and the chevron device are trademarks of SVB Financial Group, used under license.
    You are now leaving Silicon Valley Bank (SVB)
    You will be directed to a different website or mobile app that has its own terms of use, visitor agreement, security and privacy policies. SVB is not responsible for (and does not provide) any products, services or content at the third party site or app, except for products and services that carry the SVB name.
    I understand, let's proceed Stay on SVB.com