Corporate MultiPay
A multi-function account designed for all categories of business payments.
Corporate MultiPay provides an efficient and secure way of paying for your travel, entertainment and business purchases on one account.
It can help to reduce time spent on administration, automate the reconciliation of purchases and increase the visibility of colleagues' card spend.
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- Makes suppliers financially stronger with funds received in as little as three/four working days from order being placed, helping to ease cashflow.
- Reduces administration by removing their need to chase outstanding invoices.
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- Separates personal spending from business card spend – colleagues don’t have to use personal credit and debit cards to fund business purchases.
- Provides the convenience of making payments at millions of locations worldwide accepting MasterCard.
- Make contactless payments on transactions up to £100 at participating retailers (equivalent $157 and €122 on accounts billed in US Dollar or Euros).
- Simplifies expense claim authorisation and reclaim.
- Includes travel inconvenience assistance, including medical and legal referral, at no extra cost. Does not provide cover for cancellation/medical expenses.
A Corporate MultiPay programme can provide you with a wealth of benefits, including:
- Processing efficiencies, automated data capture and tailored MI reports.
- Making payments promptly improves supplier relationships and allows you to take full advantage of available discounts.
- Reduced costs of capital with up to 59 days interest free on Sterling purchases*.
- Consolidated reporting which can be used as evidence for VAT reclaim with thousands of UK-based Mastercard VAT-enabled suppliers.
- As well as Sterling, also available in Euro and US Dollar denominations to eliminate conversion costs when transacting in those currencies. To take advantage of these options a Bank of Scotland Current account is required in the relevant currency.
* or Euro or US Dollar purchases depending upon currency of account.
Reporting & Management Information
Corporate MultiPay provides detailed reporting and MI which you can tailor to match your organisation’s needs.
Additionally, a raw data file can be supplied which you can upload directly onto your own accounting system.
You can access a range of different reports, including:
Creating value
A Corporate MultiPay programme provides:
- increased visibility over supplier spend. The MI we provide can be used to develop and drive better pricing with your suppliers.
- valuable working capital with up to 59 days’ interest free credit, whilst suppliers are paid promptly.
- the opportunity to drive an income line in the form of a rebate where your spend meets minimum value thresholds.
Control & Security
Corporate MultiPay can help to ensure compliance with internal spending, risk and governance policies by allowing you to control spend:
- at Company and cardholder level,
- by individual transaction amount or volume; and/or
- via Merchant Category Group blocking.
Visibility over cardholder spend is greatly improved with all transactions reported on statements and via our Data Management system.