TransSwipe - Merchant Services and Credit Card Processing

Guest article by: by eProcessing Network

As the multitude of corporate and government purchasing agents begin to move from paper to purchasing cards (P-Cards), the resellers must become very knowledge in how the contractual process works between purchasing agents and their suppliers. In addition, for resellers to be successful in the marketplace, they must become the dependable expert and assist the suppliers through the education and setup processes when establishing their Level III processing program.

With the recent introduction of Level III payment processing by eProcessingNetwork, ePN’s focus is to help resellers identify with, and understand the purchasing agents and the issuing banks that promote purchasing card programs, and of course the end-recipient – the suppliers. By using Level III Card Processing, businesses can accept Business-to-Business (B2B) payments and qualify for the lowest interchange rates available, which can substantially reduce their processing fees and allow them to successfully cater to the needs of corporate customers.

In recent years the buyer’s accounts payable (AP) departments have become advocates of purchasing cards to help streamline processes and reduce operational costs. Currently, the buyer bears the cost of the payment – for example, the costs associated with check processing within their organization. Conversely, when the supplier accepts payment via a corporate or purchasing card, they have to absorb the transaction fees associated with the payment. Up until recently, this is one reason why many suppliers resisted accepting card payment from their buyers. With credit tightening up over the past few years thereby impacting … Read more »