Commercial cards are designed to help companies maintain control of purchases while reducing the administrative cost associated with authorizing, tracking, paying and reconciling those purchases. The difference between the various commercial cards/corporate cards is defined by the reporting features available to the cardholder. Additionally, there are qualifications for certain categories that are attributed to "merchant actions" such as entering AVS, Invoice Number, or Tax Amount.
Do you see an increased number of "Commercial Electronic" or "Data Rate 1" categories on your statement?
A growing amount of business is being done using commercial cards - many, which are being processed under the incorrect codes. We look at that, along with other issues.
If your company currently accepts card payment from customers using Corporate Cards, Purchasing Cards or even Government PSA cards you will be able to benefit from lower processing cost fees on Visa and MasterCard transactions.
To have your transactions qualify for the lower (Level 2 ) pricing, Nationwide Payment Solutions specializes in programming your existing point-of-sale system or software to collect and submit the data required by Visa & MasterCard.
Lower Your Fees on Corporate Cards:
If one of the Corporate Purchasing cards is entered in your system, you will be prompted to enter an invoice number and tax amount. If you are currently bypassing this step, your transactions are being surcharged to the highest rate on your statement.
We can identify and correct this immediately. Often times, allowing us to retrain your staff on the best practices for performing transactions can result in lower fees. We specialize in working with business owners to find out how payments are currently accepted today and offer suggestions on how to modify the process to allow businesses to increase profits by lowering the fees being paid to accept plastic.