Payment Automation using vCards provides you, the customer, with a percentage of the interchange fees paid by the vendor for credit card transactions.
Banks have traditionally offered a slightly higher percentage rebate (ours is 1% of cardable spend versus 1%-2% for banks), but our customers utilize us because the total rebate dollars are higher.
Banks typically end up enrolling between 5 and 12% of your vendors with credit card/vCard acceptance. Our historical average is between 15% and 25%. So although the percentage of AP spend is a little higher with the bank, we enroll many more vendors, and much more spend, for a subsequently larger total dollars in rebate for you.
Let us run the numbers for you and let you decide for yourself.