eProcessing Network has implemented a
TSYS’ payment platform which aims to allow merchants to process
high value b2b transactions.

The US-based payment gateway company will
offer the merchant Level 3 – Enhanced Data Processing to its SME
clients as a way to reduce the cost of processing payments of
purchase orders and invoices.

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eProcessing said that by using Level 3 Card
Processing, businesses can accept b2b payments and qualify for the
lowest interchange rates available, allowing them to meet the
requirements of corporate customers.

Bruce R. Shirely, head of business development
for eProcessing network said:

“Noticeably, the B2B financial supply chain
ecosystem is vast and complex; by incorporating Level 3 – Enhanced
Data technology into the ePN virtual terminal, more businesses can
process online B2B transactions quickly, gain better
cost-efficiencies, and still use the enhanced transaction data in
conjunction with the detailed, real-time reporting tools that are a
standard feature of our product.”

The new offering also aims to tackle the
manual and time consuming issue associated with processing purchase
orders, invoices and cheques for corporate accounts by enabling
users of the ePN solution the ability to accept corporate or
purchasing cards for payments.

eProcessing said that suppliers had resisted
accepting card payment from their buyers as once payment was
accepted via a corporate or purchasing card, suppliers had to
absorb the transaction fees associated with the payments.

The solution also aims to allow users to
receive their payment faster.