We are constantly working to improve your RBC PayEdge experience. Here is a summary of changes effective March 10, 2023.
Virtual Credit Card Payments
Users will have the option to send payments to their Suppliers via Virtual Credit Cards. By adding an RBC Business or Commercial Credit Card to your RBC PayEdge profile, users can select how to use that credit card within RBC PayEdge.
When adding an RBC Business or Commercial Credit Card to your RBC PayEdge profile, users will have an option to select “Pay Accepting Suppliers” with that credit card, which will enable Virtual Credit Card payments as a Payment Method to your Suppliers.
After adding an RBC Business or Commercial Credit Card, users will be able to see Virtual Credit Card as a Payment Method for all Canadian Suppliers accepting Canadian Funds.
Once the Supplier is set-up to receive Virtual Credit Card payments, users can create payment orders to pay their Suppliers with a Virtual Credit Card. When opting to pay a Supplier with a Virtual Credit Card, it is important to note the following;
Once the Virtual Credit Card information is transmitted to the Supplier, the Supplier has 30 days to process the Virtual Credit Card information through their payment terminal.
A Virtual Credit Card can only be viewed once by the Supplier. It is up to your Supplier to process the Virtual Credit Card information right away, or save the details for a later time.
RBC PayEdge will update a payment to ”Complete” status once the Virtual Credit Card has been viewed by the Supplier.