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1.0 THE PURCHASING VISA CARD
1.1 What is the Purchasing Card
The Purchasing Card has been introduced by Barclaycard to be used by business as an alternative method of paying relatively low value and frequently/infrequently supplied goods. It looks, and is used, like any normal debit/credit card and is widely accepted within the U.K. and abroad. (Any establishment displaying the VISA symbol will accept the card.)
1.2 Why the Purchasing Card?
The Purchasing Card offers the Institution the opportunity to involve both the focus and the flexibility of its purchasing procedures. Card users will benefit by enhancing their ability to make decisions which will directly affect and impact on their departments, whilst there will also be a reduction in the volume of invoices and associated paperwork for sundry buying and accounts.
All of this will be done without compromising our control of the Institution’s money and, at the same time, we will benefit from higher quality management information as supplied by Barclaycard.
In summary, Barclaycard will pay all our low value supplier invoices and we will pay Barclaycard once a month.