OneSource Virtual taps Mastercard for digital payment services
The complex structure of payroll and its changing cost over the years has prompted companies to digitize and automate the process further in order to help companies to keep a check on their task and monitor it.
In such, Texas-based Business Process as a Service (BPaaS) company, OneSource Virtual has selected Mastercard for two of its services- Invoice Pay and FlexPay Payroll Card- network partner.
According to the press note, Invoice Pay is an accounting and financial service that will have the ability to pay suppliers invoices for Finance & Accounting customers and will include payment capabilities including ACH, wire, check, and virtual cards powered by the Mastercard network. OSV customers are enabled to receive card rebates via the issuer with each supplier payment.
Last month, Paystand and Sage partnered for B2B payments while Sage prior to that had a separate partnership with Repay and Tide.
The platform also includes fraud protection, invoice reconciliation, and payment optimization that factors suppliers’ payment preferences.
In the case of myFlexPay Payroll Card, the solution is already available to OSV’s more than 500 Workday Payroll customers. Under this solution, it helps companies reduce their payroll costs per employee, a digital solution which the companies can use across all 50 states in the US and it removes the risk of exposure by providing guaranteed fraud and identity theft protection for employees and employers.
myFlexPay Payroll Card also includes Mastercard features such as contactless payments, ID Theft Protection and the ability to pay with myFlexPay Payroll Card wherever Mastercard is accepted.
OneSource Virtual (OSV) is the Workday partner and provides services under Business Process as a Service (BPaaS) which ranges from automation to payroll.