TSS - What is the SUA payment method?

What is the SUA payment method?

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First Published  :Mon May 18 13:41:35 GMT 2015
Last Modified  :Fri Mar 04 19:38:26 GMT 2022
Last Published  :Fri Mar 04 19:38:26 GMT 2022
Summary :  Description of the Single Use Account program for suppliers doing business with Tufts

Response

Primary Information

    Tufts uses the J.P. Morgan Single-Use Accounts (SUA) program for accelerated payment to suppliers, which is an electronic payment solution whereby Tufts pays participating suppliers via electronic credit card instead of check (the SUA  is a ‘virtual’ credit card). 

    This payment approach allows suppliers to be paid within ten days (versus net 45) upon receipt in Accounts Payable, eliminates paper and reduces processing costs and time. Please note that the SUA program will not impact use of the Tufts Marketplace or Procurement Card program already in place at Tufts.


    Questions should be directed to Accounts Payable within Tufts Support Services.  Please call 617-627-7000.
     

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Keywords

    Single Use Account, Accounts Payable, electronic credit payment