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Visa® Purchasing Card

First Tennessee's Visa® Purchasing Card is a payment card for business expenditures. Spending limits and controls can be customized to meet your company's needs. The Purchasing Card streamlines the purchasing process, particularly for small-dollar purchases, and helps reduce the costs of procurement.

Product Features

  • Spending controls based on each employee's purchasing authority
  • Comprehensive Online Reporting – tracks spending by suppliers, employees, within departments, etc.
  • Visa® Liability Waiver Program – protects companies from card misuse by terminated employees, up to $100,000 per cardholder

Product Benefits

  • Keeps you in control and gives your employees the ability to buy the items they need
  • Reduces administrative costs for procuring and paying by as much as $69 per transaction*
  • Increases your purchasing efficiency and reduces cycle time through decentralized purchasing and empowered employees
  • Improves managerial control by providing transaction spending reports
  • Improves your relationship with suppliers through faster payment without negatively impacting your cash flow
  • Provides spending data by supplier – useful for price negotiation

Payables Automation

Visa® Payables Automation is an electronic payment service that can be added to your Visa® Purchasing Card program to make paying suppliers more efficient. It allows you to send accounts payable files directly to Visa® from your ERP or accounts payable system, eliminating processing steps for you. Once you sign up, Visa® will assign a purchasing card account to each of your strategic suppliers to receive payments. Which means you'll have more time to focus on other responsibilities.


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* Source: "2007 Purchasing Card Benchmark Survey Results" – RPMG Research Corporation.


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