New Project – Single Use Purchase Card Payment Automation
Update: Work Approved
The New Work Item to standardize Single Use Purchase Cards was approved by the X9 Board. This project has been assigned to X9C and will leverage, among other things, the prior remittance work of X9C. Please let staff know if you would like more information or would like to sign up for this project.
Background:
MasterCard estimates nearly $600 billion annual invoice payments will be made in 2024 using Single Use Purchase Card Accounts (SUA). The RMPG Virtual Card Benchmark Survey Results of 2022 predicts the potential for $1.1 Trillion. The new project will focus on standardizing the user side of the transaction to reduce overhead and pain points. The work will review methods to deliver the SUA transaction notice, propose common syntax and formats for information in the notice, define minimum levels of user authentication and payment security, transmit remittance data, and identify possible APIs that would help automate the overall process. The group may also include other requirements related to SUAs if investigations reveal additional issues and needs.
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