Author Archives: Kevinkohleriter

New White Paper: Finding common ground – How both payers & providers can benefit from virtual card payments

With a shared need to reduce billing and payment costs, insurers and healthcare providers alike stand to benefit from integrating virtual card payments. In this study, written by by Beth Griffen, Vice President and Business Leader, U.S. Healthcare and Insurance and Ed Downs, Vice President … Continue reading

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Diagram: Typical Payment Routing for Virtual Card Transactions

From the diagram below, we can start to piece together what is occurring during a typical virtual card transaction.  For reference, below are a few of the abbreviations used in the diagram: CSC = Card Security Code EOP = Explanation … Continue reading

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Electronic Payments: With the Obvious Efficiencies, Why are Adoption Rates Still So Low

Electronic Payments – Obvious efficiencies, so why is adoption still so minimal Time is money. With escalating costs, competition eating into the bottom line and new regulations affecting profitability, new methods are necessary for creating cost effective needs for payment … Continue reading

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What are Merchant Category Codes (MCCs) and how are they used?

What are Merchant Category Codes (MCCs) and how are they used to determine if companies are subject to IRS reporting In 2004 the Internal Revenue Service (IRS) published an optional revenue procedure that allows users of commercial payment products to … Continue reading

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Follow the VPCA on social media

Valuable resources to keep you aware of trends and news that matters to you VPCA members actively contribute to the social media landscape. With multiple contributors from numerous technology and services providers, you can get answers to innovative new solutions … Continue reading

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Target Hit by Massive Card Breach, Hackers Swoop in for Holidays

In a February issue of the Prepaid Press, Arlene Hauben, writes about the Target card breach and the safety and standard of credit cards. Read the article, paying close attention to the last section concerning how banks are mitigating risks … Continue reading

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Case Study: $85 Million Midwest TPA loses time & money with EFTs, switches to virtual cards

“The Bank is unresponsive to our needs; they don’t understand our business.” “The Bank forced us, our clients actually, to absorb the costs of forced settlements.” “We have 1.5 FTE dedicated to supporting this process, mostly unloading cards and converting … Continue reading

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The problem with Electronic Funds Transfers (EFT) for small business

Provider enrollment with health plans for EFT is currently inefficient and time-consuming due to non-standard processes that require providers to enroll for EFT separately with each health plan. Providers often receive multiple payments against the same ERA, making it difficult … Continue reading

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The Real Cost of Financial Transactions: A Quick Comparison

Often times just defining the difference between payment solutions can best identify which one to use when you are looking for the best option. Below is a quick comparison between the different methods of moving money and how virtual cards … Continue reading

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Virtual Cards in a Virtual World

Read our latest post about the next generation of payment processing methods that allow for lower costs and higher security. Learn More.

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