What Makes our System the Best B2B Credit Card Processing?
We offer our in-house PayTrace payment gateway that automatically recognizes level II and III data cards. Our parent company acquired PayTrace towards the beginning of 2022 to align us with the best B2B merchant services on the market. The system identifies the card as a business, corporate, purchasing, or governmental card and ensures the requested data gets sent to the processor. This process will qualify the card at a much lower rate on Interchange. What does that mean for your company? The card will be eligible at a rate up to 1.05% lower than a card with no additional data passed.
What is PayTrace?
PayTrace enables your company to accept payments in a multi-channel manner. It can connect to front-end terminals, online shopping cards, and more. With the PayTrace API, a programmer can connect the gateway to wherever your company accepts payments. Your sales reps, accounting reps, and anyone who needs to process payments can get assigned a user account to access the gateway and process payments as required. The system allows for the tokenization of card numbers so that they can be on file for a customer account. You can even enable ACH processing to accept payments from bank accounts and store the banking information in your customer manager. There is even a portal your customers can access to make a payment. The features mentioned above can implement into your systems via the API.
Close the Cash Gap
B2B processing offers your customers a convenient way to pay invoices and reduces delays in payments. Aside from the standard reasons that accepting credit cards benefits any business, B2B credit card processing allows you to get paid faster than traditional invoicing. By closing the cash gap, you will have the cash flow you need to keep your business operating, resulting in less need to borrow monies at higher rates than processing.
The Data on B2B Credit Card Processing
B2B credit card processing is here to stay, only getting bigger. In a report published by Business Wire, they advised that the global B2B e-commerce market will reach a whopping $47.8 trillion by 2030. They are projecting a market growth of 11.8% annually from 2021 to 2030.
Get Started with B2B Credit Card and ACH Processing
I am here to help you with your B2B processing needs. You can reach me, Chris Judy of Total Merchant Services, by phone at 800.518.6825 or by completing my inquiry form on my site.