April 6, 2023
In December 2022, Optum Financial made a change to their payment delivery platform where they fax or mail virtual credit cards to providers instead of sending checks. This has delayed payments in many instances and has resulted in some members mistakenly being sent to collections despite making payment to their provider. To receive payments more quickly, use the following to process your virtual credit card (VPay) from Optum Financial.
What is a virtual credit card?
A virtual credit card is an electronic replacement for checks which currently require printing and mailing. Virtual credit cards allow you to receive payments electronically via a unique 16-digit number along with the accompanying explanation of payment (EOP).
What are the benefits of a virtual credit card?
Benefits include:
- Faster payments – Virtual credit cards are delivered via fax, so you’ll receive payments much faster than you would with mailed checks.
- Easier reconciliation – The EOP is delivered with the payment.
- No bank deposits – Once you process the payment, funds will be deposited directly into your business account.
- Protection against fraud – Virtual credit cards reduce the risk of fraud. No more stolen or lostwhen virtual credit card payments are properly processed.
The virtual credit card is delivered by fax or mail, with the EOP, and includes information and directions on how to process the payment. If virtual cards aren’t processed within 45 days, a paper check is issued.
What if I want a different payment option?
If you prefer another method of payment, call the dedicated toll-free number to reach the Optum Financial services support center. You can choose to receive a check or enroll for Automated Clearing House (ACH). Contact Optum via email at support@vpayusa.com or call 888-704-0076.