These days everyone is using plastic to pay. And that “everybody” includes corporations. More and more corporations are making purchases on corporate or purchasing cards. It’s a wise decision for the company since record keeping and account reconciliation is a breeze.
Corporate cards provide an additional level of data to the purchasing business, allowing them avoid the costly administrative process of creating purchase orders, while still providing the data they need to reconcile, control and track expenses for smaller ticket items.
Any merchant with corporate clients will find that accepting corporate credit cards is essential to satisfying the payment needs of corporate clients. Merchants accepting cards save the cost of invoicing and get better control DSO (Days Sales Outstanding). Contingent liabilities are minimized, collections are easy and invoicing procedures are shortened or eliminated all together.
Corporate cards require a payment gateway that accepts as Level II and Level III cards. The extra levels refer to the additional amount of data captured from the cards known as Level II and Level III data.
Accepting corporate cards is smart business. These days, corporations are moving to card payments because of the increased level of detail the cards provide. If you don't accept corporate cards, you risk losing business to your competitors that do.
How are you accepting corporate cards?