Vincent Payment Solutions growing relationships and staff

Vincent expands into Pitt athletics per diem space, grows team, and adds a client.

Vincent Payment Solutions has expanded its relationship with the University of Pittsburgh, added staff, and signed a new client as the UPMC Enterprises portfolio company looks to continue its growth.

Vincent — which provides a solution for universities to replace cash payments to research study participants and athletes — began serving Pitt’s athletics teams last year. The company provides athletes with a reloadable debit card to cover student per diems and other travel-related expenses.

Founded by UPMC and Pitt in 2017, Vincent’s technology has been used to process more than $40 million in payments to more 600,000 research participants at the two institutions.

Despite financial technology advances over the years, most universities distribute payments to research study participants and per diems to athletes in cash. They also typically record these payments by hand.

While the process is familiar to those involved, it makes things difficult behind the scenes for finance and compliance teams that are required to maintain records based on IRS and federal audit policies and NCAA audits and guidelines.

Load payments via mobile-friendly software

Vincent’s automated features remove time-consuming, manual-entry processes and allow for customizable reporting and compliance alerts. Vincent also eliminates the risk of fraud that is possible with other payment types by utilizing anonymous, re-loadable, stored value debit cards.

Assigning, loading, and canceling cards is instantaneous and can be done by research coordinators on-the-go through Vincent’s mobile-friendly software. The combination of the cards and software maximize organizations’ productivity and security.

Beth Dubyak, president of Vincent, has been featured at several national conferences in 2019, presenting on Vincent’s unique benefits as well as general payment strategies and best practices for universities and medical centers. Dubyak recently returned from the National Association of Collegiate Director of Athletics business conference where she shared Vincent’s capabilities outside of research.

Vincent team growing, updating technology

Vincent’s core team works out of Enterprises’ Bakery Square office. The team has recently added new members including a Senior Sales Director.

Over the past two years, the team has continuously improved the payments system and software by adding numerous new features including an updated mobile-friendly user interface, single sign-on (SSO), and several additional security features that keep participant information private and secure.

Top research institution signs on

Meanwhile, a top research institution has begun implementing Vincent software and services to handle payments to research study participants. The academic institution, which will soon be named publicly, ranks in the top 50 on the 2019 National Institutes of Health funding list.

“Over the years, Vincent has allowed the University of Pittsburgh and UPMC to eliminate numerous petty cash accounts and other random disbursement methodologies from their medical study operations,” Dubyak said.

“We’re looking forward to working with yet another leading research institution to provide them with a service that will alleviate aches and pains that researchers normally face when reimbursing with cash and gift cards,” she added.

For more information on Vincent Payment Solutions, visit www.VincentPay.com.

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