UMass Disbursement Strategy

  • This project represents the first coordinated, comprehensive and system-wide strategy to streamline disbursements, ensure consistent processes for campuses and suppliers and incentivize rebates / discounts.
  • With the implementation of Total Supplier Manager (TSM), Treasury and UPST have the opportunity to align payment strategies with advances in banking. 

Primary Benefits:

  • Reduction of high cost, and operationally inefficient payment methods
  • Transfer risk to third parties with better controls
  • Use payment terms more favorable to suppliers
  • Net payment discounts & third-party rebate

Payment Tools:

  • Existing Electronic Payment Programs
    • Virtual Payables Card
    • Paymode-X
  • New Electronic Payment Programs
    • Payment method to domestic individuals -  Zelle – Future Project Release

Questions for the University:

For questions about Supplier Onboarding and/or Net Payment Terms at the University please contact upst@umassp.edu

For questions about University Payment Options please contact treasurer_epay@umassp.edu

Important Payment Information for New Suppliers – Effective January 1, 2022

University Preferred Payment Options Net Payment Terms Type of Supplier
Virtual Payables Card

Net 15 (credit card processing fees apply)

Available to Domestic Entities and Domestic Individual Suppliers
Paymode-  X Premium Net 20 (1.5% network fee) Available to Domestic Entities only
Zelle - Future Project Release Net 45 Will be Available to Domestic Individual Suppliers Only
Other Payment Options Net Payment Terms Type of Supplier
Paymode-X Standard Net 45  Available to Domestic Entities Only
Checks Net 60 Available to Entities and Individual Suppliers (Domestic and Foreign)
Foreign Wires Net 45 Available to Foreign Entities and Foreign Individual Suppliers

 

Preferred Payment Options

Virtual Payables Card Program for both Domestic Entities and Individual Suppliers: 

Bank of America Virtual Payables Program 

Sample Preliminary Letter UMass Virtual Program PDF

To signup for the Virtual Payables Program at the University please contact treasurer_epay@umassp.edu

Paymode-X Program for Domestic Entities:

Paymode X Benefits PDF

Paymode_X Guide Premium Vs Basic PDF.

Join Paymode Program 

Paymode-X Enrollment Team – This team can assist with any questions about the enrollment process and setting up vendor membership. They can be reached at: 800-331-0974 or enrollment@paymode-x.com

Member Services – Available Monday – Friday 8a-8p EST, this team can answer any questions post-enrollment about a vendors membership details, how to process payments, and pull reports. They can be reached at: 877-443-6944 or memberservices@paymode-x.com.

Zelle Program for Domestic Individual Suppliers – Future Project Release:

More information will be provided on how Domestic Individual Suppliers can sign up to be paid by the University through Zelle, as we get closer to implementation of the Zelle Program