Archive for the ‘commercial services’ Category

Commercial Cards, the different types and what they are used for!

Tuesday, January 20th, 2015

Commercial Cards and how they help businesses and their employees.

  • Allows for  emergency cash and card replacement
  • Enhance travel security and convenience while saving you money
  • Improve reporting with data consolidation that allows your company to group and analyze spending data by expense type, Merchant Category Code, geography, and more.
  • Quickly and easily pay for travel and entertainment expenses such as hotels, meals, and rental cars, without using personal funds or company cash advances.
  • Provide company travelers with benefits including access to cash via millions of ATMs.
  • Monitor compliance with spending policies and purchases toward negotiated volume thresholds.
  • Capture up to 40% and more of additional revenue on commercial transactions from Level-3 line item detail

Features

From detailed auditing to electronic approvals and pre-population of expense reports, Visa Corporate card programs eliminate unnecessary administrative steps.

The Visa centralized and individual billing and payment options help ensure that your payment program aligns with your business needs. And, with the ability to download data right into your own expense management systems, the Visa Corporate card helps streamline your company’s administrative process.

 

 
Commercial cards have three types of cards:

  • Purchasing Card – issued to corporations. It allows the corporation numerous parameters to control daily and monthly spending limits, total credit limits and where the card may be used. Many employees may be issued the same card number.  Most state agencies and the government use P-Cards along with level-3 detail
  • Business Card – similar to the Corporate Card, but issued to a business with fewer employees. Each employee is responsible for his or her purchases.
  • Corporate Card – usually issued to the employees of a large corporation where the corporation assumes all liability for the card’s usage

 

These cards have the potential to add a tremendous amount of additional revenue.  Everything but Visa Business cards qualify for level-3 line item detail.  Level-3 detail allows you to to lower your transaction costs by 40% and more for including level 3 data with the payment transaction.

Level-3 requirements you use payment technology capable of supporting the level 3 payment requirements.  Terminals do not support level III. If your business accepts credit card transactions from other businesses and Are Not set up to send level 3 detail, your losing 40% of potential revenue on each of these transactions.

 

Have questions or interested in learning more about level-3 processing? Give one of our experts a call at 888 790 3450 or email info @revolution-payments.com

 

Commercial Services Best Practices

Saturday, April 9th, 2011

Help ensure your success

Download valuable guides, studies, best practices, and more. This targeted selection is designed to assist you in improving processes, reducing costs, and making better business decisions.

Accounts Payable Automation White Paper
Provides an overview of the role of electronic payments and commercial payment cards in streamlining the corporate accounts payable function to improve process efficiency and ultimately the bottom line.
Download (PDF, 467k)

Federal Purchase Card AGA Research; Report No.4
Review the 1st report in the AGA in the Purchase/Travel card series detailing the uses, policies and best practies of the Federal Purchase card.
Download (PDF, 508k)

Making Purchasing more Efficient and Effective: A Case Study
See how other companies use Visa Purchase cards to streamline their operations and optimize their organization.
Download (PDF, 600k)

State Purchase Card AGA Research; Report No.7
Review the 2nd report in the AGA in the Purchase/Travel card series detailing the uses, policies and best practies of the State Purchase card.
Download (PDF, 801k)

State Travel Card AGA Research; Report No.11
Review the 3rd report in the AGA in the Purchase/Travel card series detailing the uses, policies and best practies of the State Travel card.
Download (PDF, 401k)

Federal Travel Card AGA Research; Report No.13
Review the 4th report in the AGA in the Purchase/Travel card series detailing the uses, policies and best practies of the Federal Travel card.
Download (PDF, 432k)

P2P Federal Government Executive Summary
Browse an overview of a study that identifies Procure-to-Pay Best Practices suggested for and/or adopted by federal agencies.
Download (PDF, 35k)

Procure-to-Pay Best Practices Executive Summary
View a comprehensive study of procurement and payment best practices for companies nationwide. The result of the study was the creation of Visa’s Procure-to-Pay Best Practices, which encompass the entire procure-to-pay process.
Download (PDF, 280k)

P2P State and Local Executive Summary
Browse an overview of a study that identifies Procure-to-Pay Best Practices suggested for and/or adopted by state and local agencies.
Download (PDF, 34k)

Visa Solutions for Government Charge Card Management
See how our comprehensive solutions address government charge card management issues, as defined by the Office of Management and Budget, in OMB Circular 123-B.
Download (PDF, 19k)

The Travel Card Benchmark Survey Executive Summary
Overview of the detailed 2004 Corporate Travel Card Benchmark Survey.
Download (PDF, 169k)

2005 Purchasing Card Benchmark One Page Summary
Overview from the 2005 Purchasing Card Benchmark One Page Summary produced by RPMG Research.
Download (PDF, 108k)

The Travel Card Benchmark Survey
Learn how companies are using travel cards to achieve organizational and cost efficiencies.
Download (PDF, 332k)

Merchant Category Codes for IRS Form 1099-MISC Reporting
Find out more about the Internal Revenue Service’s published revenue procedures allowing Visa commercial payment product cardholders to use Merchant Category Codes when determining which payment card transactions are reportable to the federal government on IRS Form 1099-MISC.
Download (PDF, 830k)

Purchasing Card and IRS Reporting Requirements
A look at some of the issues faced by purchasing card users in meeting IRS information reporting, withholding, and payee documentation requirements.
Download (PDF, 80K)

One Card Versus Multiple Card Products
Evaluate the benefits of a single card that combines multiple types of purchases versus traditional multiple card programs.
Download (PDF, 42k)