June 14, 2021 – Santa Fe College’s Office for Finance has partnered with BBVA to implement virtual credit cards as an optional method of payment for our suppliers. If the vendor desires, they may agree to accept this form of payment. BBVA will contact our suppliers by email and telephone to review the benefits of accepting our virtual credit card and enroll them in this new preferred payment program (if the vendor chooses).
In the event a supplier contacts you in response to an email or telephone call they receive for this initiative, please inform them that the College has authorized the contact and encourage them to call the enrollment representative to complete the enrollment if they are interested.
The benefits to this new preferred payment program include:
- Accelerated receipt of payment
- Improved financial controls; checks can be lost or stolen.
- Prompt settlement: minimize payment delays, collection costs and disputes.
- Detailed remittance information: listing of invoices paid will be included with payment advice.
To be clear, this is a voluntary program and suppliers may choose to continue receiving payment by check.