We Make B2B Credit Card Processing Simple
The company eMerchant Authority works closely with high-risk merchants and B2B clients to make sure that they have the best B2B payment processing solution possible, while offering:
The lowest possible processing rates.
Support & Guidance
Custom payment solutions for your business.
Contact eMerchant Authority for a cost-free audit of your existing processing system to help you identify possible cost reductions.
What you should know about b2b payment solutions
B2B Payment Methods
What are the most common business-to-business payment options you should know about? Here are some methods you’ll often read about so that you can be more familiar with what to expect. B2B payment providers offer various options at different costs, so you should know more about the types of payments before you decide on the best one for you.
An automated clearinghouse is a method very similar to paying with paper checks, and it’s a widespread B2B solution. These are faster payments than checks; that’s why so many businesses find them beneficial. ACH is actually the middle person between two banks, and it’s a very secure option. In addition, the processing rates are low, and both businesses have to fill out paperwork before completing the transfer. In general, ACH transactions are complete within three days, but lately, the processing time has been much faster, and there is a same-day ACH payment option.
B2B credit cards, also known as corporate cards, are a common B2B payment method. Credit card transactions are fast, straightforward, and protected from fraud. Although most customers, even when they are businesses, prefer credit card payment, the merchant has to accept a transaction fee, so many businesses decide not to accept credit cards for B2B payments. In addition, many credit card companies, such as American Express, Visa, and MasterCard, offer special packages, rewards, and rates for new businesses that need a B2B credit card.
However, if a business decides to get a B2B credit card, it can enjoy many benefits in terms of building a good credit score. This means that you’ll have better chances of getting a loan if you ever want to apply for one. Another advantage is that these cards have lower processing rates, but for businesses with level 2 and level 3 card processing.
Payment gateways are electronic payments, mainly for online purchases. However, they’re also popular among B2B businesses. These are software applications that allow the buyer to finish a transaction using a credit card or other payment options. The merchant usually sends a link that contains the payment to the buyer; they enter their information and complete the payment.
Wire transfers are another popular payment solution that includes a transfer between two banks. The process is straightforward and fast, that’s why it’s a favorite among people. Both sides have to fill out paperwork, and the fees are higher than other traditional methods. Although the fees don’t present a percentage of the transfer and are flat, they’re costlier and not the best idea for B2B payments. In most cases, the transfer is done during the same day, but it primarily depends on the situation.
Levels of B2B Payment Solutions
Since everyone is interested in getting lower rates, you have to get familiar with the different levels of transactions. These levels depend on the data that is used to finish a transaction, and a transaction that requires more information will be more secure and will lower your interchange rates. This is because transactions that require more data are harder to process; however, the chances of them being fraudulent are lower. Therefore, these B2B payments will cost you less in terms of interchange rates.
Level I: This level is reserved only for B2C (business-to-customer) transactions. Since it doesn’t include too much data, this level comes with the highest rates. The only information that the transaction uses is the one listed on the credit card. In general, the consumer will need to enter the credit card number, CVV2 code, date, and potentially name, zip code, and amount.
Level II: This level requires more information; therefore, the chances of a fraudulent transaction are lower. The additional data also lower the interchange fees. Different card issuers will require different information; however, you can expect to enter all the data we mentioned for level I, sales tax amount, indicator, purchase ID, customer code, etc. This level is suitable for B2B transactions.
Level III: This is another level for B2B transactions and requires even more information than the previous two levels. In addition, it also saves the most in terms of fees. You’ll have to enter almost 20 items of information when doing a level III transaction. Again, choosing the right B2B payment processor will help you save time and avoid entering all this information manually.
How Important Are These Rules?
While B2B mostly relies on digital payments, many B2B companies still trust the good old paper check system. However, it’s really simple for customers to pay using their credit and debit cards, instead of waiting the time to write a check.
Business-to-business payments are more complex; therefore, you need the best B2B payment processor to make your life easier. In addition, your customers expect you to offer secure payments and fast transactions without any fraudulent activity. These are the same attributes you should be looking for in payment processors for your business.
The most common issue for B2B businesses in relation to payment processing is receiving payments on time. Most B2B businesses complain about issues with on-time payments. Due to this, most business owners suggest that a lot of customers choose to pay by credit card instead. However, most business owners are often reluctant to agree to payment by card due to the high associated fees.
eMerchant Authority works with Businesses to get the lowest fee possible.
Level 2 & 3 Processing
Almost all B2B business owners will be unaware of Level 2 & 3 Processing. These solutions can support businesses by monitoring and tracking their spending by compiling a set of extra line-item data. This information enables processing at a lower rate for card transactions.
eMerchant Authority can inform B2B businesses about the required input details. Many businesses will notice a reduction of 20% to 40% percent of standard rates.
B2B Payments and ACH
The ACH (Automated Clearing House) method of payment processing is not dissimilar to classic paper checking processes. However, this means of processing has grown rapidly in recent years. One of the main reasons for its growth is that ACH payments are generally much less costly than accepting credit card payments, and are more secure in comparison to paper checks. The process has been further simplified and it is now possible to accept same-day ACH which means that businesses can receive payments faster than ever.
eMerchant Authority offers an online terminal which enables you to set up your business for ACH, allowing you to accept payments from any device as long as you have a wifi connection.
B2B Payment Processing Problems and Fraud
Many businesses have been faced with payment fraud in recent years. However, many businesses still rely on traditional ways of processing payments manually, despite the risks associated with it. If your business continues to use such methods, you are leaving your company open to unnecessary risks. Thus, every time you process payments the risk to your business increases.
We assist business in proactively preventing Fraud and other processing problems.
How Our B2B Merchant Services Help to Protect Your Business From Fraud.
Tokenisation replaces your sensitive data with special symbols of identification. This means that your data keeps its unique information without needing to compromise on security. This method securely stores your client’s sensitive data on a secure server. Then, when you have your clients’ data, you can easily set up repeat payments. Also, you can send a report or payment invoice to previous customers without compromising security.
Authentication processes such as dual-factor increases your security. It makes it necessary for employees that approve payments to put in a unique code when they get a text or email each time they release payments. Also, this extra security layer is available for ACH and has become essential in keeping the integrity of B2B protocols.
Fraud tools help you to protect your business’s assets. Criminals who test credit card numbers on public forms can cause businesses to lose significant amounts of money. Also, fraud prevention tools enable businesses to screen dubious activity and suspicious transactions to enable merchants to stay ahead.
WHY USE eMERCHANT AUTHORITY?
eMerchant Authority is the leader in merchant processing for businesses of all sizes. We cater from medium to large establishments that would like to include POS systems and cashless payment transactions for their client's convenience. We also support new businesses, start-ups, and even high-risk merchants, so they can provide their customers with a secure and seamless shopping experience. Because customer satisfaction is also what we aim for.
Our services come at competitive rates, and we offer flexible payment solutions that are easy on the budget. Because we understand how financially difficult it is to be a business owner.
No cost surcharge and low-cost processing options. Latest hardware including Clover systems at unbeatable prices. We offer the perfect solution to all your retail payment system needs. Here are the unmatched benefits that you will receive when you apply for a retail merchant account with eMerchant Authority:
Merchant Account Experts
20+ Proven Bank Relationships
Medium/High Risk Accounts
Fast Merchant Account Approval
E-Commerce & Retail Options
B2B Vendors Supported
Multiple Payment Solutions
Multiple E-Commerce Gateways
ACH, E-Check, Credit Cards
B2B Level 2/3 Data Discounts
3D Secure Frictionless Checkout
Intuitive Technology & Support
Gateway Recurring Billing
E-Commerce Cart Plugins
International Merchant Accounts
Dedicated Account Managers