What's in a Card
The first known mention of this term was in a book in 1887. The author, Edward Bellamy, coined the term in his utopian novel, Looking Backward, which was published in 1888.
What is a credit card
Third-party fraud identified on payment card is the responsibility of this organization?
What is U.S. Bank?
In Lockheed Martin vernacular, what does the acronym CAPP stand for?
What is Cardless Account Payment Program- Lockheed's virtual card program?
The size of most of these measures 85.60 by 53.98 millimetres (3+3⁄8 in × 2+1⁄8 in) and rounded corners with a radius of 2.88–3.48 millimetres (9⁄80–11⁄80 in)
What is a traditional credit card?
This word forms the first half of the blank and procedures documents and describes guidelines for acceptable card usage. It's the law!
What is the policy document?
The continuing process of reviewing AP Files, conducting supplier enablement campaigns and confirming suppliers are activated in the ERP are all part of this broader practice.
What is program optimization?
According to 2024 AFP Fraud and Controls Survey, this form of payment remains the most susceptible to fraud
What are paper checks?
Originally designed to pay for small (typically less than $5,000), yet frequently purchased items such as maintenance, repair and operating (MRO) goods, these cards are now also used for larger, more strategic purchases. Hint: gnisahcrup drac
What is a purchasing card ?
True/False - The strategy of accelerating payments to a supplier in exchange for accepting a virtual card is consider best practice.
What is True
U.S. Bank references four key pillars when describing effective card program management. They are promote operational efficiencies, generate cost savings, identify revenue sources, and this last one.
What is risk mitigation?
From a Treasury management perspective, suppliers try to shorten this accounts receivable metric to promote cash flow.
What is DSO - Days Sales Outstanding
This rate varies by the merchant, the size of the transaction, and the amount and quality of data shared. It could also be an exit off of the highway.
What it interchange?
This financial metric measures the difference between current assets and current liabilities.
What is working capital
True/False - Regular reviews and analysis of AP Files have little to no impact or benefit on the success of a virtual card program
What is FALSE
This three letter acronym works as a preventive control blocking feature to prevent purchases, but not at the supplier level
What is a MCC- Merchant Category Code?
According to the 2024 AFP Payments Survey, this is the number one reason why suppliers accept virtual card as a form of payment, think double-time
What is faster payment/receipt of cash?
These interfaces allow clients and bank partners to integrate card setup and maintenance capabilities into their own user interface to eliminate manual data entry processes
What are API's
Establishing segregation of duties, reviewing card transactions in a timely manner, and leveraging preventative an detective controls are all part of this type of prevention checklist
What are fraud prevention checklists or best practices?
This Lockheed Martin employee has oversight of the U.S. Bank Payment Card programs?
Who is Ramon Cordero?
According to the 2024 AFP Payments Fraud and Control Survey, over what percentage of firms experienced business email compromise targeting ACH or check payments
What is 60% - Actually 63%