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How does the cost compare to our current process?
Typically, the cost of paying a supplier with SparcPay is less than half the cost of issuing a cheque or entering an EFT through a bank web portal.
How secure is SparcPay?
SparcPay ensures the security of your transactions by using an encrypted connection, a secure database for your transactions, and by enforcing strong passwords for all users. All approvals are recorded in a digital audit trail.
How long does it take for a payment to reach my supplier?
Regular payments are completed within 4 business days of approval and release. Next day payments are available (without prefunding) subject to certain requirements – please contact us for details.
Does it matter which bank I deal with?
SparcPay works with any and all US banks, Canadian banks and credit unions for domestic payments.
What if I don’t have banking information for some suppliers?
SparcPay will look after this for you, so that your payments are always done electronically. If some suppliers are not able to receive electronic payments, we will pay them by an alternative method and work to onboard them for future payments to be made electronically.
When I am out of the office can I review details and do approvals on my mobile device?
Absolutely – all details including attachments can be viewed from anywhere on a secure connection on any web-enabled device.
Is there a setup fee?
If you are using a common accounting system (e.g. QuickBooks, Xero) then there is no setup fee.