Stanford University is excited to offer suppliers the virtual card payment program, which provides a streamlined and efficient payment method with payment terms reduced to net five (5) days. Virtual card is Stanford's preferred method for facilitating expedited payments to suppliers.
What is a virtual card payment and how does it work?
Virtual card payments are a secure digital solution for processing approved business purchases. Each payment is a single-use, 16-digit virtual account number sent to the supplier to be used within a designated timeframe. The supplier receives an email notification with the virtual card details so they can process the payment.
Enrollment campaign
Stanford has partnered with J.P. Morgan and its partners (Boost, Billtrust, Bora, and Iteration Matrix) to transition and onboard suppliers to the virtual card payment program. While virtual card payments are Stanford's preferred method, suppliers may choose not to enroll when contacted.
How can currently enrolled suppliers opt out of the virtual card payment program?
To stop participating in the virtual card payment programs, suppliers can contact the JPM Supplier Support team at (877)-263-5184 or @email. JPM may offer Virtual Card Network (VCN), which uses the virtual card payment functionality for a direct deposit (ACH) payment with the same net five (5) day payment terms.
Questions
Departments can contact Nini Cruz, Director of Payment Services at @email to address any questions from their current suppliers.
Suppliers should be aware of potentially fraudulent attempts by imposters claiming to represent J.P. Morgan or its partners. Stanford will never request sensitive or financial information outside of the secure portals indicated in the campaign communications. Suppliers can verify legitimacy by:
- Checking sender emails and links: Campaign emails will only come from verified domains listed below. Suppliers should:
- Watch for misspellings or unusual addresses (e.g., extra letters, swapped characters, fake subdomains like iterationm.stanford.com)
- Hover over links before clicking to confirm they direct to validated domains
- Recognizing common fraud red flags:
- Urgent or unprofessional requests for sensitive or financial information.
- Requests for banking information through email or PDF/Word documents.
- Poor grammar, odd tone, or unexpected attachments (especially password-protected files)
- Instructions to keep communications "confidential" or "internal only"
- Contacting Procurement Services: If suppliers have concerns about the virtual card campaign, departments can assure them that the enrollment campaign is legitimate and virtual card is Stanford’s preferred payment method. If suppliers have further questions about legitimacy of virtual enrollment communications, they can contact Nini Cruz, Director of Payment Services (tcruz@stanford.edu) or Gilbert Hoh (@email).
| Contact | Verified Email Domains | Verified URL Domains |
|---|---|---|
| J.P. Morgan (JPM) | @jpmchase.com | jpmorgan.com |
| Iteration Matrix (IM) | StanfordU_ePay@IterationM.com | iterationmatrix.com; iterationm.com |