B2B COMMERCE PAYMENT PROCESSING
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B2B COMMERCE: PAYMENT PROCESSING FOR BUSINESS TO BUSINESS
Accept online payment using credit cards
With the growth of B2B commerce, the need for electronic payment solutions increases as well. The ability to accept online payment using credit cards will be a competitive advantage for businesses. That is why it is essential to find the right payment processing partner that can help you to improve your cash flow by eliminating the cost of floating funds and collections.
CREDIT CARD PROCESSING SYSTEM LEVELS
There are three levels in a Credit Card processing system, which are referred to as Level 1, Level 2, and Level 3
- Level 1 credit cards, commonly used in business-to-consumer commerce, require the least amount of data to be included in a transaction.
- Level 2 and Level 3 credit cards require B2B merchants to include additional information on each transaction processed. Also, Level 3 credit card needs detailed, line item data with each transaction; which appears in reports to business cardholders. In exchange for this additional information and the larger size of the transaction, the credit card companies offer lower interchange fees.
- Level 2 and Level 3 cards are downgraded (assessed additional fees) when the required data elements are missing. To prevent this, it is essential for merchants to understand what is necessary for a transaction to process at the lowest rate.
WHO IS SWYPE FAST?
Swype Fast is a recognized credit card processing company that provides products and services in the B2B market. Our extensive network of partner banks and payment experts has helped many small business owners, entrepreneurial start-ups and large organizations to grow their business exponentially.
Swype Fast provides tailored solutions for all of its clients and helping them maintain the highest standards of banking and payment card industry compliance. Our team of experts can help business owners successfully launch and grow, or scale their businesses.