For Your Business Members Sponsors and SEGs

How Purchase One Works
Purchase One brings the multiple levels of purchasing management together into a single streamlined process. You authorize any number of specific employees at your credit union to make business purchases from any merchant or vendor who accepts Visa.

Setting Controls and Limits
Purchase One’s Internet-based platform makes it more convenient for you to set and implement your credit union’s procurement rules and limits based on signature authority and approvals. Signature controls and spending limits are automatically applied to all purchasing requests before the transactions can occur.

• Spending limits – Set a master limit for your credit union. Individual cards roll into the master limit.
• Transaction limits – Set maximum spending limits according to individual responsibility or cost center.
• Discretionary limits – Set individual cards with a baseline limit, e.g., $200, for purchases not requiring stringent control.
• Dynamic limits – Automated control processes dynamically adjust card limits in accordance with approved purchases.
• Merchant sector controls – Set controls for specific merchant sectors, such as Information Technology, which may require larger limits than other categories.

When you increase your control over spending authorizations and limits, your credit union will enjoy the added efficiency of accelerated responses to payment requests.

Using the Card
Designated employees may make authorized business purchases using their Purchase One card. In addition, you can dedicate specific cards to specific vendors. You control the processing amount limit on these cards, as well as the allocation settings and the schedule of payments to the vendors.

Enhanced Reporting Capabilities
Purchase One offers an online record of every cleared transaction. A comprehensive data feed allows you to track spending as transactions clear, as well as manage account reconcilement on a cost-center or branch-by-branch basis. You can view this data at any time and input additional details, such as purchase order numbers or cost center allocations. Invalid or unauthorized transaction combinations are immediately flagged.

Transaction allocation and reconciliation are automated, significantly reducing the number of transactions requiring hands-on back-office attention. Cost center allocation can occur either at the time of initial payment request or immediately after the transaction has posted. Transactions may be reallocated online to alternative cost centers, merchant sectors or expense categories. You can also conveniently input split allocations for single purchases made by more than one cost center. This may be convenient for such payments as utility bills.

Billing and Settlement
Electronic settlement improves the flexibility and accuracy of your reconciliation process. Every month, your accounting department receives a single consolidated statement detailing activity for all individual accounts in your credit union’s Purchase One card program. Settlement occurs in full each month, thereby avoiding interest charges to individual accounts. The same monthly settlement date covers all cards held by your credit union. All individual Purchase One cardholders at your credit union will receive their own detailed transaction statements for reference and may also view them online.

General Ledger Compatibility
The Purchase One system supports many standard general ledger software applications. Reconciled transactions can be imported directly into your credit union’s general ledger system.

Enhanced Protection
Purchase One’s automated expense policy control prevents unauthorized or "beyond-limits" use. The real-time visibility into transaction activity allows you increased opportunity to observe and act against potential fraud, along with the capability to disable an individual card at any time.

Purchase One
The only credit card solution offered by credit unions – exclusively for credit unions.

Now is the time to realize the benefits of reduced check writing, streamlined purchase management, efficient reporting—and even potential savings on interchange. The more you use the Purchase One card program, the greater financial benefits you’ll receive.