Make Money While Spending Money.
Get 1.5% back just for paying your suppliers with SGPay.
You do business digitally, so why wouldn't you pay invoices that way?
Virtual payments have become one of the most flexible payment options available, especially in the B2B ecosystem. According to the PYMNTS report, almost 50% of Accounts Payable professionals prefer electronic invoicing solutions, with around 25% planning on implementing virtual payment cards into their operations.
SupplierGATEWAY has partnered with industry leader BluePenguin to bring you SGPay, a digital payment solutions that improve your AP processes. SGPay makes it easier than ever to automate your invoice payments, pay suppliers on-time or early, and get cash back just for paying your suppliers.
Pay suppliers faster while saving money and increasing security
Future-ready payment solutions are critical to streamlining B2B transactions. Enable your AP department to increase cash-flow and working capital with SGPay.
Effortlessly generate savings through your regular payment activities and re-invest in your business.
Stop wasting time writing and mailing checks, and making your suppliers endorse, deposit, and record your payments. Boost efficiency and reduce payment errors simply by using SGPay.
Unlike ACH payments, SGPay doesn’t require supplier banking information, and payment is never directly tied to your bank account. SGPay cards are locked to a specific amount to be used by a specific date, offering real-time protection against security breaches and physical card or check theft. Suppliers receive payment in real-time, and shortens the dispersement process from a few days to a few minutes.
SGPay eliminates the time, resources, and transaction fees associated with processing checks. Reduce discrepancies between invoices and payments, save time on reconciliation, and stop shorting or overpaying your suppliers.
Manual payment processes make spend management difficult in a world of digitized and online record-keeping. SGPay cards are only issued upon approval, meaning only authorized purchases can be made. Enhanced transaction data means employee spend can be closely monitored, meaning you can ensure purchasing policy compliance, reduce maverick spend, and better control your costs.
Have questions about virtual payments with SGPay?
Virtual payments are a fast, secure, accurate way to pay your suppliers digitally. Virtual payments eliminate manual check-writing and supplier banking information disclosure that’s necessary for ACH payments. Virtual payments are issued in the form of a virtual card that is pre-loaded with a certain dollar amount that needs to be spent by a certain date. This preloaded amount combined with a predetermined expiry date enhances security and ensures only the approved amount is spent.
SGPay has no additional fees for those paying with SGPay. There’s also no additional fees for those receiving payment via SGPay outside of their normal fees charged by the payee’s credit card processor.
You receive your cash back 30 days after the end of the billing period with SGPay. This means additional cash liquidity for your business. Other virtual payments send cash back payments either quarterly or at the end of the year.
Normally it takes under 24 hours to start using SGPay. All you need to do is complete KYC (know your customer), and enter your banking information. Once this information is processed, you’ll be alerted that you can start paying with SGPay.