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.
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.
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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