According to Visa, Purchasing Cards account for more than $22 trillion, with growth of 4.8% annually. Used by government, businesses, and higher education to control accounts payable spending, these cards represent an area of key importance for your customers. However, legacy payment systems do not support the proper workflow to accurately process these cards, leaving the business vulnerable to higher costs and fewer authorizations. Handling purchasing cards improperly can increase the cost of a particular transaction by as much as 59%. Your organization is presented with an opportunity to gain higher revenues from new customers while avoiding unnecessary costs when processing payments.
Level III Data is additional data that can be supplied with purchasing cards. This includes additional details about the customer’s order, such as tax amount, freight amount and line item details about the individual items the customer ordered.
CenPOS helps your business embrace business customers by properly processing these transactions in order to improve authorization rates while decreasing the cost of acceptance