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Benefits to the University
- Allows the employee to obtain goods and services much faster and easier than before. Cardholders may directly contact vendors that accept VISA to purchase goods and services with a limit of $5,000 per transaction; $10,000 per month.
- Sharply reduces paperwork and processing in the employees department as well as in Materiel Management and Accounts Payable. The use of the BOA VISA card benefits the University by shifting the paper processing to BOA VISA.
- Provides cost savings through consolidated payment (one monthly payment to BOA VISA, versus multiple supplier payments).
Benefits to Vendors
- Payment is received in as few as three business days
- Elimination of invoicing and collection activities