What is a Purchasing Card?

Purchasing Cards are credit cards issued to employees of corporations that make frequent purchases without the hassles of the typical paperwork. Purchasing cards provide corporations with control over their purchases while reducing the amount of purchase orders. Purchasing cards streamline the entire purchasing process and provide a documented audit trail. Purchasing cards are typically issued by banks and other credit card issuers and are usually branded by Visa, MasterCard® or American Express.

Merchant/Supplier Acceptance

While many medium to large size corporations have opted to issue PCards as a way of streamlining their purchasing procedures, the success of a PCard program depends on merchant/supplier acceptance of cards. Suppliers receive tremendous benefits by accepting corporate purchasing cards. Most suppliers willing to expand their business must be purchasing card ready. By accepting purchasing cards through Business Payment Services merchants can:

Improve cash flow
Reduce the number of invoices
Reduce credit and collection work
Open new sales channels
Capture enhanced data
Reconcile automatically to A/R system.

What is Enhanced Data?

When a purchasing card is accepted by a merchant/supplier, certain levels of enhanced information can be captured. The type of equipment used by the merchant will determine the ability to pass level 2 and level 3 data from the purchase. Level 2 Data includes sales tax amount and customer code. Level 3 data includes more detailed information like ship to data, item description, quantity, and much more.

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