Play video

Royal Bank of Scotland

Approval2BuyTM

for Commercial Payments

Simplify your supplier payments with enhanced
controls, increased security and better data

Royal Bank of Scotland

Approval2Buy™

for Commercial Payments

Simplify your supplier payments with enhanced controls, increased security and better data

Value

Virtual accounts.
Real control.

Revolutionise corporate purchasing with enhanced controls, increased efficiencies and better reporting.

Revolutionise corporate purchasing with
enhanced controls, increased efficiencies and
better reporting.

Approval2Buy™ is a powerful solution to help streamline payments by enabling users to create and manage unique, dynamically generated virtual account numbers in order to make payments to their suppliers for goods and services.

Approval2Buy™ is a powerful solution to help streamline payments by enabling users to create and manage unique, dynamically generated virtual account numbers in order to make payments to their suppliers for goods and services.

Benefits

A robust virtual card solution

Transaction-level control
Every transaction is assigned authorisation controls.
Workflow control
Approval routing for transactions follow existing approval process.
Automated reconciliation
VCN data available for reconciliation reporting.
Enhanced data
Information important to each individual payment can be incorporated into the transaction.
Your Differentiator

Virtual accounts

A dynamically-generated, unique account number that is associated with a
specific payment—not an employee or department.

Approval2Buy™

A powerful solution to help streamline B2B payments by enabling users to create and manage virtual account numbers to pay suppliers

Programme control

Sets benchmark for excellence with dynamically-generated, single use accounts. Maximises security with a robust set of innovative controls.

Clarity

Simplifies reconciliation and ability to achieve 100% transaction matching. More transaction data results in better insights to optimise the programme.

Flexibility

Integrates with AP systems for seamless processing. Handles
global programmes with AP departments in multiple countries.

Virtual account numbers

Approval2Buy — provides a customisable, configurable programme of controls for Program Administrators.

Program Admins can set up, adjust and manage the controls required for their company

Manage purchase templates, groups and types for complete control and oversight for the virtual cards programme.

Payment Control and Audit reports for complete visibility of virtual card activity

Reporting on virtual card requests, authorisations and clearing for activity monitoring and reconciliation.

Email communication can be customised for virtual card request confirmations or status information

Configure & control

Approval2Buy — the most robust virtual card solution in the market. Flexible, simple and secure.

Create and manage Virtual Account Numbers

Create and manage Virtual Account Numbers Explanation: dynamically-generated, unique account numbers associated with specific payments not employees or departments.

Automated reconciliation

VCN data available for reconciliation reporting.

Enhanced Data

Information important to each individual payment can be incorporated in to the transaction.

Programme control

Sets benchmark for excellence with dynamically-generated, single use accounts. Maximises security with a robust set of innovative controls.

Clarity

Simplifies reconciliation and ability to achieve 100% transaction matching. More transaction data results in better insights to optimise the programme.

Flexibility

Integrates with AP systems for seamless processing. Handles global programmes with AP departments in multiple countries.

Program Admins can set up, adjust and manage the controls required for their company

Manage purchase templates, groups and types for complete control and oversight for the virtual cards programme.

Payment Control and Audit reports for complete visibility of virtual card activity

Reporting on virtual card requests, authorisations and clearing for activity monitoring and reconciliation.

Email communication can be customised for virtual card request confirmations or status information

Create and manage Virtual Account Numbers

Create and manage Virtual Account Numbers Explanation: dynamically-generated, unique account numbers associated with specific payments not employees or departments.

Automated reconciliation

VCN data available for reconciliation reporting.

Enhanced Data

Information important to each individual payment can be incorporated in to the transaction.

Advantages

Innovative, robust
and secure

Get the advantage with our all-in-one solution

Many virtual cards use a “store-and-rotate” process where a group of card numbers are reserved and rotated over time.

Many virtual cards use a “store-and-rotate” process where a group of card numbers are reserved and rotated over time.

Approval2Buy Offers
Patented technology to create unique VCN for each transaction
Card numbers never reused, avoiding issues with credits/refunds
in the future
Card numbers never reused, avoiding issues with credits/refunds in the future
Ability to generate unique CVC number per each VCN needed for
online payments
Ability to generate unique CVC number per each VCN needed for online payments
Handles global programs with cards issued in multiple countries
Appends 29 fields to transactions for optimal reconciliation and cost allocation
Real-time controls of virtual cards
Fees charged by the processors for ‘storing’ card numbers
Long, successful track record of platform consistency and stability
Access

Access options designed to suit
you and your employees

Access options designed to suit you and your employees

Users

Company employees can log in to Approval2Buy to request virtual card numbers, review their purchase requests and transactions

Programme administrators

Company Programme Administrators can set up users and payment controls, manage and monitor the virtual card programme with a variety of reports available.

Guides

It’s a flexible, simple and secure way to
pay suppliers

Login

Programme admin home screen

Request a VCN

Programme customisation

Reporting

Login

Programme admin home screen

Request a VCN

Programme customisation

Reporting