Optal’s Virtual Account Numbers (VANs) eliminate some of the biggest frustrations in B2B payments, increasing choice and reducing risk with an alternative payment solution. Insurers, online marketplaces and global media agencies are using Optal VANs to streamline payments and replace cheques, paying their suppliers fast and turning costs into new revenue opportunities. Overview of VANs VANs offer an alternative payment solution to BACS, cheques and commercial cards – one that creates buyer and supplier control of payments made and or received, and streamlines your payment processes to reveal and eliminate hidden inefficiencies from the ‘tip to tail’ of your supplier network. VANs open up new payment possibilities, including the ability to automate reconciliations, reduce payment misdirection and errors, simplify accounts data, and use the payments solution as a profit centre via rewards. A better payment choice Automate and innovate Reduce your payments risk Make payments a profit centre Using VANs means you can pay suppliers with speed, accuracy and control. VANs reduce the risk of costly operational errors while ensuring better and more profitable partnerships with suppliers by minimising transaction costs and giving them access to efficient payments. Learn how to make better payment choices with our 'Do you have a VAN plan?' eGuide. Download now The Benefits Make payments pay Many see transaction costs as just another cost of doing business. Not us. By using Optal VANs to pay suppliers, businesses have the opportunity to realise part of the payment fee as additional margin in the supplier chain, which can either be recognised as revenue, or reinvested into supplier strategy. Let us take the risk Limit your fraud risk exposure with an alternative payments solution that removes the need to hold your suppliers’ financial data, and reduces onboarding data capture pressures. Improve relationships Pay your suppliers on time and with greater accuracy, meeting SLAs and nurturing better supplier relationships. Cut complexity Solve payment security issues head-on by cutting the cost and complexity of payments through more efficient, secure processes. “VANs allow organisations to pay their suppliers quickly, simply and securely, enabling automatic and immediate reconciliation” How it works Optal VANs work by offering third-party suppliers efficient payment through a Virtual Account Number that’s backed up by Mastercard. Your business can ensure accurate payment and easier invoice and data management. Optal VANs are ideal for any business that manages a large number of payments every day across diverse supplier groups. VANs enable these businesses to streamline their operations, and gain added margin from payments. View Success Stories Related Resources VANS EGUIDE Do you have a VAN Plan? Read more VIDEO How to add value to your business with Optal VANs Play Video BLOG Why it’s time for a cheque replacement strategy Read more FAQs For any questions you might have around Optal VANs, see our FAQs below or our glossary for frequently used terms. What is a VAN? I can’t accept a card How will I use the VAN How will it work Am I going to have to change the way I work to get paid? What if I lose the VAN? The VAN has expired, how do I get paid? Is it difficult to process a VAN on my POS Is the VAN transferable? Is this a safe payment mechanism? Does a VAN cost me money to accept? How will I receive the VAN? Is the VAN PCI DSS compliant? How do I know what the payment is for? Why should I choose to receive a VAN? How do I input the card number? If you have any questions or would like to know more, let’s talk. Get in touch. First name Last name Your organisation Your email address Telephone number By pressing “submit”, you agree that Optal may collect your full name and email address so we can add you to our subscriber list to receive marketing material, newsletters or general information about the Optal group’s services. We will only use your information for the purposes set out in our Privacy Notice. If you wish to unsubscribe you can do so at any time by emailing us at unsubscribe@optal.com or by clicking on the unsubscribe link at the end of any marketing email you receive from us. Download our eGuide for advice on minimising costly errors in supplier payments Latest Tweet Loading... Follow us on Twitter Connect with us on Linkedin Home Our solutions About Optal Our purpose and values Latest news Talk to us View insurance sector © Optal Limited 2021 | NMLS ID 1527344 | Regulatory Information | Privacy Notice | Cookies | UK Tax Strategy | Modern Slavery Act