- 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
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
| 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 release | TBD | 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 PDF
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 FAQ PDF
Paymode_X Guide Premium Vs Standard PDF
Join Paymode Program
Paymode X Premium:
Use the following link to enroll in Paymode X Premium with our Net 20 Payment Terms https://www.paymode.com/umass
Paymode X Standard:
To enroll in Paymode X Standard, with our Net 45 Payment Terms, call or email the vendor enrollment line and request to be enrolled enrollment@paymode-x.com and 800-331-0974
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- Go Live Date TBD
Below is additional information about Zelle
Zelle Website: https://www.zellepay.com/
Zelle FAQ PDF
Zelle Tips for Safe Payments PDF