As previously announced, the University of Texas at Austin Procurement and Payment Services team, in partnership with JPMorgan Chase (Chase), launched a new method of supplier payment called the Single Use Virtual Card Program (SUVC). A pilot launch began on Monday, October 4, 2021, with Beckman Coulter, Apollo Water Services LLC, Macartney Inc, Prototeck Sheetmetal Fabrication, and Jackson Laboratory as the initial suppliers participating in the program. This pilot program was successful and has ended.
With the successful conclusion of the pilot, we are happy to announce more vendors have agreed to participate in this program and will be set up with virtual credit mail codes.
As a reminder, payment document creators may notice a few small changes in the process of paying a supplier enrolled in the SUVC.
- In *DEFINE, vendors enrolled in the program are referred to as “Virtual Credit” suppliers.
- When creating payment vouchers, entering the UT EID of a supplier enrolled in the SUVC Program automatically causes the system to select the supplier’s virtual credit mail code. If an override is needed, the document creator will need to provide justification and route to Accounts Payable for review.
- “Check numbers,” will look different than the University check numbers or the state warrant numbers. Known as virtual credit payment IDs, the payment ID will start with a “V” followed by an eight-digit number, e.g., “V00000024”.
- Other than mail code selection, the process to prepare a payment voucher will not change. Departments will follow their standard procedures to prepare and route payment vouchers for final approval.
- Suppliers on hold with the state will have their payment held the same way they are for printed checks.
If you have questions about the SUVC Program, visit the program website, review answers for in AskUs or contact Payment Services at PaymentServices@austin.utexas.edu.
