Virtual Card Enrollment
Thank you for your interest in DU's virtual card enrollment. The University of Denver utilizes the US Bank "Payment Plus" program to pay vendors using automated Visa card payments. Our goal is to improve efficiency and working capital management, as well as reduce the cost of processing check transactions.
Benefits of Payment Plus
There are many benefits to enrolling in the US Bank Payment Plus Visa card program:
- Accelerated payment and improved cash flow
- Reduced paperwork and a streamlined accounts receivable process
- Real-time notifications for each payment
- Complete remittance details to support efficient receivable posting
- No changes or modifications to your existing card acceptance procedures
It is the University's intent to pay vendors participating in "Payment Plus" immediately upon approval of invoices, which generally results in significant payment acceleration.
DU's terms for each payment method are as follows:
- Payment Plus — Payable immediately
- ACH — Net 30 (payable in 30 days)
- Checks — Net 45 (payable in 45 days)
How Payment Plus Works
If you will be receiving multiple payments from DU and you are set up through your bank with a merchant account to accept credit card payments, this program provides the fastest payment method available.
Following enrollment, each payment will generate an automated remittance email linking to a secure web portal that will provide a unique Visa Commercial Card account number, the charge amount, and other payment processing details. The account number is unique to each payment, so it will not need to be kept on file.
For more information, see the Payment Plus Vendor FAQs.
Enroll in Payment Plus
After submission of this form, you will be contacted by a US Bank Representative to complete your registration.