What is PaymentWorks?  
A Business Identity Platform that eliminates the risk of payments fraud, reduces cost and ensures compliance.

How does it eliminate the risk of payments fraud and ensure compliance? 
The platform verifies the identity elements of the payee, along with their banking information. Additionally, it verifies other compliance-related identity attributes, such as tax ID info and address, and monitors hundreds of government sanction lists.

How does it reduce cost?  
The entire process of creating  and updating payee profile information is payee-driven and automated, with the appropriate workflows and approvals before the vendor record is created or updated in Banner.  Less touches to setup and maintain a vendor record mean less production costs.

How does it actually work?
Whenever a payer (Department) needs to onboard a new payee (vendor), the department simply sends the vendor an invitation to PaymentWorks. The vendor sets up a profile that can be shared with all of their customers which makes it easier for them if they deal with multiple companies.  

But how does all of this tie to Banner?  
The Campus Accounting Team still tracks the vendors' information in PaymentWorks' workflow and enters into Banner.  Nothing is entered into Banner unless first approved by CAS.  Once the information is entered into Banner and connected to PaymentWorks, an automated email is sent to the department contact with the Banner vendor number.  An automated email is also sent to the vendor communicating successful onboarding to PaymentWorks@PSU.   

Are there any other advantages for the vendor?  
Yes!  Banner will feed a nightly file to PaymentWorks providing invoice status for vendors to view. They simply look into their PaymentWorks account to see if an invoice has been paid.  If paid, it tells them the check number and date of payment.  (this feature is coming soon!)

Is it free to our vendors?  

What is the responsibility of the departments?
Your responsibility is simple. 

  • Go to our website (see button below) to 1) View our online PaymentWorks@PSU video training instructions on how to invite your vendors  2) Read the PaymentWorks@PSU slides. 
  • Get access to PaymentWorks by clicking on the "PaymentWorks@PSU" link on our website.   As a PSU employee, you will be able to access PaymentWorks@PSU via your ODIN information to take on the role of Initiator, to invite your vendors.  
  • Invite your NEW vendors.  Do not instruct them to use the W9/W8 portal.  You will be well equipped to invite your vendors by viewing the online video and the slides.  
  • Invite any existing vendors who contact you of changes to their name, TIN number, address, or banking information.  
  • Encourage your vendors to respond to the email from PaymentWorks inviting them, if your vendors contact you. It is a great program that protects them and is free to them.
  • Email us with any questions at vendset@pdx.edu

Campus Accounting Services has already begun inviting existing Banner vendors and will continue to do so on your behalf.  Some of your vendors may contact you with questions.  If they do, please encourage them to complete the PaymentWorks' registration.