Vendorin is Now Corcentric Payments
The leading provider of value-added electronic payment solutions now empowers Corcentric customers to achieve improved cost savings, risk mitigation, and retained network discounts through Corcentric Payments.
Accelerate cash flow, eliminate fraud, and enhance your supplier experience with a digitized, automated process from PO to payments.
With a long history and outstanding track record of powering the payments and AP processes of some of the most influential names across many industries, Vendorin adds significant muscle to Corcentric’s already substantial technology, services, and advisory offerings. As Corcentric Payments, we empower customers to digitize and automate the entire payments lifecycle with a specialized focus on payment optimization through people, process, and platform innovation.
True Payment Network
True Payment Network (recently rebranded as PayNet) The Corcentric True Payment Network (PayNet) empowers suppliers with total control over their information, automatically validating and updating it across the network whenever changes are made so you have total confidence that supplier data is up to date and payments are going where—and to whom—they should.
- Insights: You gain tremendous insights into every supplier — payment visibility, reports, and history available 24/7.
- Potential: Open up more opportunities to secure better pricing, bigger discounts, favorable terms, and competitive advantage.
- Multichannel Supplier Marketing: Program Branding and Enrollment assets work to ensure that your suppliers have buy-in to electronic payments to help ensure the success of your program.
Customer Success Management
A dedicated team of some of the most experienced customer success managers in the payments industry works with you to monitor and manage every stage of your payments lifecycle.
- No disruption: Expertise that has your back to ensure that your payments digitization efforts are fully focused and realized successfully.
- Information sharing: You get custom reporting options and data transfers and post-payment support to handle any issues related to payments, including missing payments, voiding, confirmations, etc.
Frustrating fraudsters who have their eyes on your electronic payments program means putting you ahead of the curve with StopFraud, a proprietary monitoring system with the most advanced tools, innovation, and team of experts available.
- High Security: StopFraud integrates the most comprehensive multi-point process to validate correct payment details and attributes to secure your data—12 points in all.
- Monitoring: A dedicated team provides monitoring so you can be sure payments are delivered successfully to the right suppliers, in the right amount, at the right time. Every time.
Vendorin: Turning the payments process into an accelerated cash flow generator since 2007
The Vendorin True Payment Network (now PayNet) was founded to provide secure supplier self-service payment information as the first bank-agnostic FinTech processor. This network of hundreds of thousands of suppliers is based on a single Tax ID per supplier—eliminating duplicate records and avoiding data entry missteps that could possibly derail electronic payment processes and expose potential security gaps for fraudsters to exploit. These capabilities were then bolstered with Virtual Card electronic payment options, followed closely by our innovative VPax+, a revenue-generating ACH system, Pre-Paid Debit Cards, and vpaxAR™, processing remote secure consolidated payments for Accounts Receivable.
The Vendorin goal, now the Corcentric Payments goal, is to eliminate friction by optimizing customer payment programs through platform innovation, people support, and continuous process refinement. This critical combination is how we built our reputation: by empowering customers to boost cash flow, build stronger third-party relationships, and mitigate fraud and risk in payments.
Why is Corcentric consolidating the Vendorin brand?
Consolidating Vendorin under the Corcentric brand is a natural next step after acquiring the company in December 2020 that helps the company complete the B2B transaction cycle by bringing payment into our product offerings. It enables us to provide an integrated true payment network for the enterprise as well as full automation of an organization’s accounts payable and/or accounts receivable processes—all under one unified brand.
When was Vendorin acquired?
Corcentric acquired Vendorin from Juvo Technologies in December 2020.
When will these changes take effect?
Vendorin will be rebranded as Corcentric on January 31, 2022.
What benefits will I see from this consolidation? How does the consolidation affect me?
Corcentric has more than 20 years of profitable growth, a strong balance sheet, and a customer retention rate exceeding 95%. Combining the Vendorin product solution with Corcentric’s supplier network allows us the opportunity to monetize transactions through payments, supply chain finance, and group purchasing, as well as move payments to electronic forms and increase overall supplier acceptance.
Are the products changing?
While the Vendorin platform will be rebranded Corcentric Payments, other aspects of the product’s functionality and operation will remain the same, and we do not anticipate service disruption for users. Some of our product names have changed. Please refer to this guide to help you become familiar with the new product naming.
Will I need a new W9 from Corcentric?
Your company receives payments from Corcentric on behalf of our mutual customers. We are happy to provide our direct suppliers a W-9; however, most of our serviced suppliers should not need a new W-9 at this time.
Will my sales and support team contacts change?
Your sales and support team contacts will remain the same, so continue to reach out to the same team members. Please note that Vendorin email addresses will update to the @corcentric.com email domain, but phone numbers will remain the same. Also note that enrollment agents will identify themselves as Corcentric Payments when reaching out to suppliers.
How can I access Customer Support?
For help via email, the Corcentric Payments Support inbox is email@example.com. The main customer support number for Vendorin will change to (800) 608-0809, where you will have an option to select prompt No. 3 for Corcentric Payments.
Can I continue to access my account the same way?
Yes, continue to log in to your account as you always have. While you may notice Corcentric Payments rebranding, no other aspects of the platform will change.
Will my URL be changing?
For existing customers, your URL to access the platform will remain the same; however, we expect the URL to be updated in the coming months. We will be in communication to let you know when this change is expected. New customers will automatically be given a URL reflecting the brand consolidation.
Valued Vendorin Customers: Enjoy the Same Outstanding Experience and Access to an Expanded Array of Technology and Services
As Corcentric Payments, Vendorin’s proven offerings integrate seamlessly into an expansive universe of source-to-pay, order-to-cash, and other leading software, managed services, and advisory capabilities. This gives Vendorin customers simplified access to a leading technology platform and expertise to achieve ever-greater opportunities to refine how they purchase, pay, and get paid.
What possibilities can you unlock with the leading digitized, automated Payments Solution?
See what’s in store.