The Pay by Card feature allows you to use your own credit card to pay your bills through [me] Bill Pay. It gives your business flexibility while managing your accounts payable! Defer payments, earn rewards, and keep your vendor payments on time. Payments made by card are secure, fast, and sync to your accounting system for easy reconciliation.
Below you will find a list of common questions. For more information on how to make a payment, see this article. Don't hesitate to reach out if you need more help!
Which types of cards can I use?
- You can use Mastercard, Visa, American Express, and Discover credit cards. And you may add multiple cards! Debit or prepaid cards are not eligible at this time.
How long will it take my vendor to be paid?
- In most cases, your vendor will be paid within 2-3 business days.
- You will likely see the charges as pending within minutes on your credit card statement.
Is [me] Bill Pay secure?
- Absolutely! Your information is managed by a third-party provider that follows the strictest security standards (PCI compliant) to process all credit card payments. MarginEdge does not keep your information, but we know it's securely handled and stored by a company who focuses exclusively on credit card payments.
How will bill payments show up on my credit card statement?
- Each vendor payment will show as an individual transaction on your credit card statement, listed as "MarginEdge Bill Pay" for the amount paid to the vendor. Credit card transaction fees will be charged and listed separately. If you happen to approve payments for multiple vendors at the same time, there will be a separate charge for each vendor payment, and only one charge for the transaction fees.
Why do I have to pay a transaction fee?
- As you know, credit card companies charge a fee to process the transaction that occurs anytime you use a credit card to make a payment. We pass this 2.99% fee on to you to cover our costs. You’ll see the transaction fee itemized on the Bill Pay confirmation screen.
How is the fee handled?
- When you incur fees for paying by credit card, we will automatically book the expense to the GL account you specify when setting up your card. Then you can export the payment record to your accounting system.
Can I cancel a Pay By Card Payment?
- Yes, you can cancel credit card bill payment anytime BEFORE the process date.
Are there any restrictions?
- Credit card payments cannot be scheduled for a future date.
- These payments cannot be set up for Payment Approval or for Autopay.
- This feature is not supported on the MarginEdge Mobile app or for customers outside the US.