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The smarter way to do B2B online purchases

Tips

Virtual card

2 min

06-15-2022

Does your company, like many others, struggle with B2B online purchases? If so, Eurocard and Mazepay have a solution for you.

Unnecessary complexity and manual tasks prevent many companies from utilizing the fast, secure and user-friendly processes that private consumers are used to experiencing when making online purchases.

Eurocard has entered into a partnership with Mazepay and offers a B2B payment solution that provides instant approval for credit card payments to employees for products and services online with unique single- and multi-use virtual cards. This cloud-based spend management service fully supports remote work, enabling employees to purchase and pay for products anytime, anywhere.

"There is a great need among companies for a solution that provides a smarter approach to indirect procurement. By unifying Eurocard's proven payment solutions with Mazepay's innovative platform, we make B2B online purchases as simple and secure as it should be", says Anne Mette Bergmann, Key Account Manager at Eurocard.

The SaaS spend management solution is built around Eurocard's single-use and multi-use virtual cards, a new virtual card will be issued for each unique purchase and subscription. No matter how business rules are configured, a virtual card will never be issued without pre-approval.

“By introducing smarter software, Eurocard and Mazepay help procurement and finance professionals cut the tail in longtail or indirect procurement. And not just individual purchases. With this solution, companies can get control and a complete and centralized overview of all running subscriptions and recurring payments,” says Anne Mette Bergman and continues:

“Another advantage is that it is easier to forecast costs. It is also easier to onboard new employees with the necessary subscriptions, and track subscriptions across the entire organization.”

And even though unique virtual cards are created for each purchase, all transactions are collected on one single monthly invoice to easily control your company spend.

”Companies no longer have to onboard one-time suppliers or track down maverick spending and stray invoices. With this solution, the time and resources that are spent on managing the company’s indirect procurement strategy are significantly reduced - all while improving spend visibility", says Per Daluiso Salmonsen, International Sales Executive, Mazepay.

Here’s how it works:

Request
An employee makes a purchase request in Mazepay and instantly send it to the approver.
Approval
The request is approved by a manager or automatically by validating the request against pre-approved business rules set up in Mazepay.
Receive card
A unique single- or multi-use virtual card is issued and instantly shared with the emplpoyee.
Purchase
The employee makes the purchase with the virtual card.
Upload receipt
The employee upload the receipt to Mazepay. For digital subscriptions the receipts is uploaded automatically.
Automated posting
All payments across all employees are consolidated on a single monthly invoice and automatically posted into the financial system.
For accounting
Account payable downloads the files within Mazepay for automated posting of all the purchaces into the accounting system.