Frequently Asked Questions

 

Click on a question below to expand the section and view the answer. If your question is not addressed below, please contact us at [email protected] for assistance.

What is Coupa?

Coupa is a global technology platform for Business Spend Management. Barclays uses Coupa software to digitally transact with suppliers. The Coupa Supplier Portal (CSP) is the online system where you receive purchase orders and create invoices for Barclays. If you opt into the new programs we are launching, the CSP is also where you’ll be viewing payment remittances for virtual cards or using early payment discounting features.

What is Coupa?

Coupa is a global technology platform for Business Spend Management. Barclays uses Coupa software to digitally transact with our suppliers. The Coupa Supplier Portal (CSP) is the online system where you receive purchase orders and create invoices for Barclays. If you opt into the new programs we are launching, the CSP is also where you’ll be viewing payment remittances for virtual cards or using early payment discounting features.

Why is Coupa contacting Barclays suppliers?

Barclays has partnered with Coupa to help notify suppliers about two new programs supported by Coupa that can reduce payment times ahead of contractual terms and can improve your cash-conversion cycle. If you enroll in one of the new programs, Coupa will also provide you with resources and information on using the program.

What options are available to us to receive our payments faster?

Suppliers can opt into a Virtual Credit Card payments program to receive invoice payments via virtual credit cards as soon as an invoice is approved. Or, suppliers can participate in an Early Pay Discounting program and offer discounts on invoices in the Coupa Supplier Portal for early payments. 

I am not the right person to receive and review these communications. How do we update our information?

You can reply to the email you received to send us the right contact person (name and email address) or contact Coupa directly at Barclays_Early_[email protected].

What is the deadline to respond?

There is no deadline to respond but if you are interested in receiving virtual card payments at invoice approval or using early pay discounting for faster payments we encourage you to reply at your earliest convenience so that we can complete your setup for you.

Is there a cost to use the Coupa Supplier Portal?

No, there is no cost to Barclays suppliers to use the Coupa Supplier Portal.

I don’t have a Coupa Supplier Portal account. How do I create one?

Please provide your company name and your email address to Coupa at [email protected]. We will contact your Coupa Supplier Portal Admin to add you as a user to your company’s account.

What efforts is Coupa taking to ensure my transactions are secure?

Coupa is a secure eProcurement platform. Details can be found at https://compass.coupa.com/en-us/trust

Please also see this help article for more tips on keeping your Coupa supplier account secure.

What are the eligibility requirements for the Virtual Card Program?

Suppliers that accept credit card payments and have a credit card processor would be eligible to receive payments by virtual card.

What are virtual cards?

Virtual cards are credit cards that are shared digitally and sent to you in a secure email, rather than using a physical card. Your payment email will contain all the information you need to charge the virtual card: credit card number, expiration date, CVV. You will receive a new card by email for each payment made.

What are the eligibility requirements for the Virtual Card Program?

Suppliers that accept credit card payments and have a credit card processor would be eligible to receive payments by virtual card.

Who is the right person at our company to make the decision to accept virtual card payments?

The virtual card program should be reviewed by the team responsible for Accounts Receivable to determine if virtual card payments are an option for your invoice payments for Barclays. This can also be approved by someone in your Finance department.

We would like to accept virtual credit cards but don’t have a credit card processor or merchant account. How do we get set up?

Please contact Coupa at [email protected] for assistance. 

Why should I opt into receiving my payments by virtual credit card? What's the benefit to me?

Virtual credit cards are our preferred payment method and offer suppliers a way to get paid quickly and securely. Barclays will issue your virtual credit card payment as soon as your invoice is approved instead of your original net terms. Your virtual credit card and associated remittance advice will be sent via email to the email address you specify, ensuring your AR team can properly process and apply the payments.

If I select payments via virtual card, do I need to revise my original contract with Barclays?

No. Suppliers who select virtual card payments will not need to revise their current contract. Barclays will automatically update payment terms to send virtual card payments as soon as an invoice is approved without requiring an updated contract.

What do I need to do to sign up for virtual credit card payments?

You will need to complete the Payment Change Authorization form for Barclays to review. If you have not received this form, contact us at Barclays_Early_[email protected] to receive a form. You will also need to provide the Contact Name, Email, and Phone Number for the person at your company who has authorized changing your payment method to virtual credit cards. Barclays will review and validate your information before changing your payment method.                            

How will we receive our virtual cards?

Your virtual cards will be sent by secure email to the payment email address you provide in your online registration form. When selecting your email address for payments, please note that anyone with access to this email box would have access to the emails containing the virtual cards.

Can there be more than one virtual card recipient email address?

No, there can only be one virtual card recipient. For this reason, we recommend providing an accounts receivables general email.

Who is sending the virtual cards?

Virtual cards are sent from the email address [email protected]. You will need to add this email address to any spam filters at your company to allow emails from this address so the virtual card emails are not blocked by a spam filter. If you need help with this process, please work with your IT team.

Do I need a Coupa Supplier Portal Account to receive virtual credit card payments?

A Coupa Supplier Portal (CSP) account is not required to receive payment via virtual credit card. However, we encourage all of our suppliers to have a CSP account to manage POs and Invoices, plus get full visibility and instant access to payment details and remittance advice.

How can we charge a virtual card?

You can charge the virtual card the same way you charge any credit card using your existing merchant account. Just as you see on a physical card, your virtual card includes the credit card number, expiration date, and CVV code for you to process the card. This information will be provided to you in the email that is sent to the Payments Email Address you provide to Barclays.

How will we receive remittance advice for virtual card payments?

In addition to the email containing the virtual card information which is sent to your designated Payments Email Address, you will also receive a separate email with the Payment Remittance Advice sent to that email address. All CSP users with the Payments permission will also receive the associated remittances. Each Virtual Card can include payments for multiple invoices. The remittance email will include the specific invoice(s) being paid with the virtual card. All remittance advice can also be reviewed in the Coupa Supplier Portal in the Payments section. All CSP users with the “Payments” permission assigned will be able to view remittance advice in the CSP.

Are there any security requirements to receive the virtual card email?

The virtual card information is sent as a TLS (Transport Layer Security) encrypted email. The inbox receiving the virtual card emails must meet TLS 1.2 protocol. The majority of email services including Gmail already do meet this TLS encryption requirement. If you are unsure whether your email account meets the requirements, please consult with your IT Team.

We accept credit card payments from customers and have a Stripe account. Can we use our Stripe account in Coupa to automate our card processing?

Yes, if you use Stripe to process your credit card payments, you will be able to connect your Stripe account to your Coupa Supplier Portal account to automatically process your virtual credit card payments from Barclays. Learn how here: https://supplier.coupa.com/coupa-pay-help/stripe/

We receive a large number of payments and are interested in automating our virtual card processing. Do you have any options?

Please contact Coupa at Barclays_Early_Payment_[email protected] for assistance. 

What is Early Pay Discounting?

Early Pay Discounting helps you get paid earlier by allowing you to offer discounts on invoices if Barclays pays them early. You choose the discount percentage you offer for eligible approved invoices. Your offer is then sent to Barclays to review and decide whether they want to pay early to receive your offered discount. By incentivizing customers to pay early for discounts, you increase your working capital by receiving payments early.

What is Early Pay Discounting?

Early Pay Discounting helps you get paid earlier by allowing you to offer discounts on invoices if Barclays pays them early. You choose the discount percentage you offer on invoices in the Coupa Supplier Portal. Your offer is then sent to Barclays to review and decide whether they want to pay early to receive your offered discount. By incentivizing customers to pay early for discounts, you increase your working capital by receiving payments early.

What are the eligibility requirements for the Early Pay Discounting program?

Suppliers must have a Coupa Supplier Portal account to be able to participate in the Early Pay Discounting program. In the Coupa Supplier Portal, you will be able to offer discounts at the time of invoice creation and/or after the invoice is approved. If you sign up for the Early Pay Discounting program, Barclays will turn on this feature for you in the CSP and Coupa will provide documentation, training, and resources on how you’ll be using the discounting program.

Who is the right person at my company to make the decision to use Early Pay Discounting?

The Early Pay Discounting program should be reviewed by your Finance or Treasury team to determine if this program is of interest to your company. The Coupa Supplier Portal user(s) that will be responsible for making any Early Pay Discount offers in the CSP on your invoices should be someone authorized by your business to make discounted payment offers to Barclays to consider for early payment.

Do we need a Coupa Supplier Portal Account to use Early Pay Discounting?

Yes, a Coupa Supplier Portal (CSP) account is required to use the Early Pay Discounting program. All users with the “Pay Me Now” permission in CSP are able to use the discounting feature on orders or invoices.

How will we use the Early Pay Discounting program?

You will use the Coupa Supplier Portal to make discount offers on your invoices. Depending on the program you will be using, you will either offer a pre-defined discount term set by Barclays at the time you create your invoice (Static Discounting) or make any discount offer you choose after your invoice has been approved by Barclays (Dynamic Discounting).

How will we know which Early Pay Discounting program we will be using?

If you express interest in using Early Pay Discounting, Barclays will enable your access in the Coupa Supplier Portal. Barclays will determine which Early Pay Discount program(s) you will have access to use. You will receive specific information on the particular program(s) you will be using in the Coupa Supplier Portal, and how to set up and offer discounts during invoice creation and/or after invoice approval.

If we enroll in the Early Pay Discounting program, will discounts be automatically turned on for all our invoices?

No. Suppliers who enroll in Early Pay Discounting will be enabled to use this feature in the Coupa Supplier Portal and then will have complete control on which invoices they wish to accelerate with a discount offer for faster payment. Suppliers will be provided training on how to select specific invoices for discount offers, or how to adjust your settings in the Coupa portal to automatically apply the same offer on all invoices, if desired.

I don’t have a Coupa Supplier Portal account. How do I create one?

Please provide your company name and your email address to Coupa at [email protected]. We will contact your Coupa Supplier Portal Admin to add you as a user to your company’s account.

Why should we use the Early Pay Discounting program? What is the value to our business?

Offering discounts for early payments is an easy, efficient, and flexible way of improving your cash flow whenever the need arises. Suppliers decide if and when they need to accelerate payment on an invoice without any additional paperwork. Early payment discounting gives you access to working capital from your existing cash flow instead of having to borrow funds through a loan.

I already have my own financing options. Why should I use Early Payment Discounting?

Businesses like yours use Early Pay Discounting in Coupa because it gives you control over your cash flow by choosing exactly when to get paid. Early Pay Discounting is also simpler, faster, and offers a lower cost of capital than other funding options.

Will Barclays always accept all my early payment discount offers?

Barclays will review and consider all discount offers that suppliers make through the program, and evaluate whether to accept your specific discount offer on an invoice payment and make an early payment. If your offer is accepted, you will be notified in the Coupa Supplier Portal.

How will we receive payments when we use Early Pay Discounting?

If your discount offer is accepted, Barclays will make your payment using your current payment method.

Will using the Early Pay Discounting program change my contracted terms with Barclays?

No, using this program does not change your existing terms with Barclays and does not require an updated contract.