Audience: All users.
Summary: This article is an overview of how to submit SilverPay payments, how to ensure they're processed, and how to reconcile them.
Submit SilverPay Payments
Submitting a SilverPay payment is no different than submitting any other payment method. Since enabled vendors have SilverPay set as the default, there is no need to discern which vendors are acceptors and which aren’t. If SilverPay is the default payment method, that supplier is ready to be paid via SilverPay.
MineralTree Monitors Processing
When you submit a SilverPay payment, the payment email is delivered to your vendor within hours. From there, MineralTree is responsible for ensuring that the payment is “swiped” within the 30 day expiration period. Every day, our team looks at every outstanding SilverPay payment and through a system of reminders, will ensure successful processing as well as provide any needed vendor support.
Reconcile SilverPay Payments
With a normal credit card, you accumulate charges over a 30 day statement period, then manually pay off the debt. In addition, the credit card statement acts as an extra reconciliation burden. With SilverPay, your reconciliation occurs in one place: your bank statement. Instead of manually paying off your credit card charges per statement, MineralTree will automatically ACH debit your company on a per payment basis. As soon as a supplier successfully processes a SilverPay card, the ACH is initiated. That way, reconciliation is no different from ACH or check payment.
Contact for help:
SilverPay questions should be emailed in to firstname.lastname@example.org