Payment Requirements
VCN Requirements
The VCN product is an electronic payment tool provided by SVB. For VCN Payments, your vendors will receive an email containing a unique 16-digit virtual credit card number. All transfers must be in USD.
All VCN cards originated through FISPAN are single use cards.
Please include the following required information for all payments to avoid potential delays or returns.
- The Vendor’s full name, address, email address, and phone number, are expected to be populated on the Vendor record.
- The Vendor and Bill (where applicable) Billing Addresses must reside in the country of destination, matching the Vendor Bank Details record.
- The Currency of the Vendor Bill must be in USD
FISPAN enables users to submit virtual card payments out of a “Credit Card” type ledger account in their ERP to separate the card liability from the cash clearing.
When the card is swiped, it is the responsibility of the user to manually record the transaction in their journal (i.e., “pay for the swipe”).
In the future, FISPAN is looking to automate this.
Updated 13 Jan 2025
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