Level 3 card processing, provided by VantageB2B, lowers card interchange expenses for commercial purchasing and government card payments.

Chicago, IL (PRWEB) April 04, 2013

hybris, the world’s fastest-growing commerce platform provider ranked “leader” by principal global analyst firms, today announced that it has partnered with VantageB2B, Business Payment Solutions from Vantage Card Services, to enhance the commercial payment processing capabilities of its highly flexible and scalable hybris B2B Commerce solution. The partnership allows B2B organizations to take advantage of commercial payment best practices, lower their related processing expenses and make payment processing more secure.

“B2B eCommerce is being transformed by the use of commercial card products that are being used for corporate, business and GSA (government) purchasing,” said Ty Hardison, vice president strategy & development at Vantage Card Services. “To take advantage of these new payment methods, merchants must implement payment solutions that meet the more complex requirements of Level 3 which these card products leverage. In addition, to handle the specific processing requirements of these commercial p-cards securely, and at the lowest possible cost, requires a business payment processing platform that is uniquely different from that used by consumer payment solutions.”

Level 3 uses data that is additional information about a transaction which is commonly found on an invoice, such as product/service descriptions, quantities and other details. Level 3 processing refers to the process of passing the line item detail from the invoice when submitting the sale transaction for settlement. By providing its customers with Level 3 data for qualifying transactions, hybris will now enable B2B and B2G (business-to-government) organizations to lower their card interchange expenses for commercial purchasing and government card payments. Using VantageB2B’s tokenization system architecture eliminates the risk of exposing customers’ sensitive data while making it faster, easier and less expensive for them to meet quarterly and/or annual PCI compliance requirements.

“As a result of vendors increasing the functionality of their e-commerce platforms to handle more complex B2B product information, contract management and pricing rules, companies in B2B eCommerce are pushing the purchase finalization process online as well,” said Pat Finn, vice president of channels, Americas, at hybris. “Our partnership with VantageB2B perfectly marries their expertise, best practices and specialized tools to deliver Level 3 card payments with the industry’s most modern B2B commerce solution from hybris to help support this business requirement.”

hybris’ new Level 3 capability is available through its hybris Extend program and is ready for immediate use.

To learn more about hybris and Level 3 processing, or request information on the service, go to http://www.hybris.com/product/hybris-extend/vantage.

About hybris
hybris helps businesses on every continent sell more goods, services and digital content through every touchpoint, channel and device. hybris delivers "OmniCommerce™": state-of-the-art master data management and unified commerce processes that give a business a single view of its customers, products and orders, and its customers a single view of the business. hybris' omni-channel software is built on a single platform, based on open standards, that is agile to support limitless innovation, efficient to drive the best TCO, and scalable and extensible to be the last commerce platform companies will ever need. Both principal industry analyst firms rank hybris as a “leader” and list its commerce platform among the top two or three in the market. The same software is available on-premise, on-demand and managed hosted, giving merchants of all sizes maximum flexibility. Over 500 companies have chosen hybris, including global B2B sites W.W.Grainger, Rexel, General Electric, Thomson Reuters and 3M as well as consumer brands Toys“R”Us, Metro, Bridgestone, P&G, Levi's, Nikon, Galeries Lafayette, Migros, Nespresso and Lufthansa. hybris has operations in 15 countries around the globe. hybris is the future of commerce™. For more information, visit http://www.hybris.com.

About VantageB2B
VantageB2B provides Level 3 purchasing card and GSA payment processing; API integrations to ecommerce and ERP platforms; and tokenization data security solutions. Vantage supports B2B and B2G clients with guidance on payment acceptance policies, strategies and best practices to lower cost, increase productivity and enhanced security. For more information, visit http://www.VantageB2B.com or call Ty Hardison at 800-397-2380 x14.

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Vantage Card Services launches BankcardTerminals [+] as a new merchant service resource focused on the latest payment technology recommendations.

Our passion has always been consulting with clients to help them identify, select and implement payment solutions to best meet their needs. With BankcardTerminals [+] we take the homework and feedback from working with others to showcase the best in class offerings on the market today.

BankcardTerminals.com can help you plan your roadmap to the next generation of payment technology.

• Mobile commerce options are plentiful which means there is plenty to consider when making a decision.
• Virtual terminals and electronic invoicing solutions are delivered from the cloud providing feature rich solutions but deciding which one can be tricky.
• There are lots of terminals on the market but which are “Future Ready” to meet the industry requirements for EMV chip cards and support End-to-End Encryption, NFC, Contactless and more.
• Or, is it time to upgrade to a low-cost Android tablet point of sale system? Of all the tablet POS solutions, how will you decide?

At Vantage we are continuously working on improving our programs, technology and service offerings to provide the best value available anywhere in the payment industry. We recommend that merchants take advantage of our research by speaking with a Vantage Payment Advisor about their payment acceptance needs.

Global Payments identifies and self-reports unauthorized access into a small portion of its processing system limited to track 2 card data only (no track 1 card data, no names, no social security numbers and no bank account information was compromised).

Global Payments reports incident does not involve our merchants or their relationships with their customers. Global Payments continues to provide uninterrupted processing services.

ATLANTA March 30, 2012 – Global Payments Inc. (NYSE: GPN), a leader in payment processing services, announced it identified and self-reported unauthorized access into a portion of its processing system. In early March 2012, the company determined card data may have been accessed. It immediately engaged external experts in information technology forensics and contacted federal law enforcement. The company promptly notified appropriate industry parties to allow them to minimize potential cardholder impact. The company is continuing its investigation into this matter.

“It is reassuring that our security processes detected an intrusion. It is crucial to understand that this incident does not involve our merchants or their relationships with their customers,” said Chairman and CEO Paul R. Garcia.

For more information please visit www.2012infosecurityupdate.com.

The shift from paper base to digital currency has been quietly transformative.   A panel of financial experts discuss digital currency, trends, innovation and regulatory policies to consider and avoid.  

To start, digital money trends show favorable growth.  Between 2003 and 2008, card-based transactions grew by 13% worldwide.  And government use is part of this growth.  For example, the U.S. federal government is using purchasing cards for procurement to save $1.7 billion a year according to a GAO study.  Beyond cards, consumers have embraced new technologies that facilitate convenient and secure electronic payments across a wide range of platforms.

While banks are regulated, what about a host of non-bank participants who provide alternative payment services from ecommerce, person-to-person, micro transactions or prepaid?  Should they be regulated to address consumer protections, data security, money laundering, anti-terrorism and other illegal activity and if so, how?

Finding the right regulatory structures necessary to support continued payment innovation is important.  As an example of what to do - emulate Check 21.  Check 21 law was established in 2003 and went from zero to nearly 100% adoption in five years.  This success is pointed to as a regulatory model to follow where the legal framework is established but no specific solution is mandated; where baseline consumer protection is set but not the process of exchange, letting the market freely adjust to changes in technology and innovation.  The government’s role is to protect fair competition but must resist the urge to intervene with price controls.   In Australia where regulators artificially suppressed Interchange pricing, consumers didn’t get lower cost or added benefits from retailers and incurred lower rewards and more fees when making certain payment choices. 

All payment systems are measured by four factors: security, integrity, efficiency and reliability.  With the growth in the variety of payment mechanisms, consumers making payment choices adjust market share to those payment systems who best meet this criteria.  This free market approach is better than having politicians pick winners and losers.  Regulations should provide the framework to impose security and protect integrity through standards but not set pricing or otherwise inhibit innovation.

Watch this C-Span video presentation of the American Enterprise Institute Discussion on Digital Money

As reported by BUSINESS WIRE -- For the first time in US history, the number of consumer and business transactions including checks and electronic transactions for debit cards, credit cards and automatic payments will exceed 100 billion by the end of 2009, according to Moebs Services. 

Type of 100B Transactions in 2009:

• Debit card transactions, 33 percent
• Paper checks, 24 percent
• Credit card transactions, 23 percent
• Automatic Payments (ACH), 20 percent

Mike Moebs, CEO provides noteworthy analysis:

• Based on current transactions, our projections show that debit cards and automatic payments are taking over at an increasingly rapid rate from the traditional checking account for most Americans
• Over the past 30 years, paper check usage has dropped from 85 percent of all transactions to less than 25 percent this year
• Credit card usage while increasing in an absolute sense is falling as a percentage of total transactions after rising for 25 years
• The projected 100 billion transactions do not represent an increase in US consumer spending, which began declining in 2008 and is still not back on track as we approach year-end
• This research indicates that consumers are doing significantly more transactions for significantly fewer dollars than in the past. This may be due to easy electronic payment methods replacing cash