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Pay vendor with credit card

Traditionally when dealing with vendor or supplier, we have to make the payment in the form of cheque, cash or bank transfer. Even as we are entering digital age, many vendors and suppliers still do not offer credit card payment due to the high processing fee or they simply do not have a high volume of credit card transaction to justify the cost.

With jomSETTLE make payment services, you as the customer now have the choice to make payment to your vendors or suppliers using your credit card and it comes with various benefits for you.

Pay Vendor with Credit Card

To pay your vendor with credit card through jomSETTLE is a fairy straight forward process. All you need to do is to register an account on jomSETTLE and tell us your vendor details (bank, amount and invoices as references). You then make the payment using your favourite credit card and we will make a bank transfer to your vendor within 3 working days.

The Benefits of Paying Vendor with a Credit Card

More cash on hand for the business

  • No matter what businesses you are in, managing cash flow will always been the most challenging task. From continue running your day to day operation smoothly or to put your expansion plan into motion, everything is about cash flow. So, when you pay your vendor with credit card, you will get to reserve the cash in hand for up to 45 days before you actually need to repay your credit card. You can then have more leeway in managing your cash flow. You can read more about cash flow here.

Minimize disruptions during tough times

  • In the event of an emergency, your credit card can be a great safety net through jomSETTLE. Because you can tap into your immediate credit available to pay your vendor or any other business expenses allowing you to keep your operation running smoothly.

Potential Earlier Payment Discount

  • When paying your vendor with credit card, you can negotiate a potential early payment discount from them by paying them earlier. This way, you can settle the payment early with discounted price and only spend your cash in hand 45 days later to repay your credit card. This also increases your profit margin.

How to Get Started

Here are the steps on how to pay vendor with a credit card:

  1. Sign up for your jomSETTLE™ account here or log in.
  2. Choose Business Account to make vendor payment.
  3. Complete a one-time eKYC process.
  4. After the eKYC process, you will need to upload your SSM document for further verification.
  5. Once approved, you can start make payment by choosing the supplier payment type.
  6. You will need to include documents such as invoices or purchase orders.
  7. Choose your preferred credit card and Pay. All local credit cards are accepted.
  8. We will make a bank transfer to the recipient account within 3 working days.

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Traditionally when dealing with vendor or supplier, we have to make the payment in the form of cheque, cash or bank transfer. Even as we are entering digital age, many vendors and suppliers still do not offer credit card payment due to the high processing fee or they simply do not have a high volume of credit card transaction to justify the cost.

With jomSETTLE make payment services, you as the customer now have the choice to make payment to your vendors or suppliers using your credit card and it comes with various benefits for you.

Pay Vendor with Credit Card

To pay your vendor with credit card through jomSETTLE is a fairy straight forward process. All you need to do is to register an account on jomSETTLE and tell us your vendor details (bank, amount and invoices as references). You then make the payment using your favourite credit card and we will make a bank transfer to your vendor within 3 working days.

The Benefits of Paying Vendor with a Credit Card

More cash on hand for the business

No matter what businesses you are in, managing cash flow will always been the most challenging task. From continue running your day to day operation smoothly or to put your expansion plan into motion, everything is about cash flow. So, when you pay your vendor with credit card, you will get to reserve the cash in hand for up to 45 days before you actually need to repay your credit card. You can then have more leeway in managing your cash flow. You can read more about cash flow here.

Minimize disruptions during tough times

In the event of an emergency, your credit card can be a great safety net through jomSETTLE. Because you can tap into your immediate credit available to pay your vendor or any other business expenses allowing you to keep your operation running smoothly.

Potential Earlier Payment Discount

When paying your vendor with credit card, you can negotiate a potential early payment discount from them by paying them earlier. This way, you can settle the payment early with discounted price and only spend your cash in hand 45 days later to repay your credit card. This also increases your profit margin.

How to Get Started

Here are the steps on how to pay vendor with a credit card:

  1. Sign up for your jomSETTLE™ account here or log in.
  2. Choose Business Account to make vendor payment.
  3. Complete a one-time eKYC process.
  4. After the eKYC process, you will need to upload your SSM document for further verification.
  5. Once approved, you can start make payment by choosing the supplier payment type.
  6. You will need to include documents such as invoices or purchase orders.
  7. Choose your preferred credit card and Pay. All local credit cards are accepted.
  8. We will make a bank transfer to the recipient account within 3 working days.

Let's Stay in Touch

Get updates on our latest article.

You May Also Like

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