ClearCommerce Corporation, a provider of transaction management solutions for e-commerce infrastructure, announced support of business-to-business (B2B) corporate purchase cards. The ClearCommerce(R) Engine 4.0 will give merchants and suppliers the ability to accept corporate purchase card payments online.
Traditionally, companies’ purchasing departments receive purchase requests from employees and initiate the paper-intensive purchase order process based on those requests. Using corporate purchase cards, companies can streamline this process, enabling purchasing departments and company employees to significantly reduce the amount of paperwork and time spent on transactions. In addition, suppliers will receive payment faster via the corporate purchase card system than with traditional purchase order processing methods.
Most credit card statements provide Level II information (the card number, merchant name and location, purchase price and sales tax). ClearCommerce’s relationships with major card processors such as Paymentech, the nation’s largest acquirer and processor of credit card transactions, provide customers with Level III data that includes full line-item detail in each statement, including product codes, cost and quantity, in addition to the traditional Level II data. Providing Level III data also gives suppliers a price break from the card processor.
“Corporate purchase cards have become a viable payment vehicle for B2B payments,” said Robert Lynch, president and chief executive officer of ClearCommerce. “Rather than having to track down receipts for each purchase, a company’s purchasing department can now receive a detailed statement that includes full line-item detail for all purchases.”
As the largest credit card processor for non-face-to-face transactions in the United States, Paymentech’s direct response unit handles a significant amount of B2B credit card volume. ClearCommerce has certified version 4.0 for Paymentech’s card-not-present transaction processing.
“This move will expand our support level for a large segment of clients who accept Visa and MasterCard corporate and purchasing cards,” said George Wilcox, group executive for product management at Paymentech. “Version 4.0 of the ClearCommerce Engine will greatly simplify account reconciliation, helping businesses maximize the effectiveness of their online procurement processes.”
The ClearCommerce Engine capabilities include: real-time transaction processing with credit card processors, fraud analysis and protection, business reports for merchants, storefront integration, APIs to businesses’ existing ERP or inventory systems and shipping and tax calculation.
Dallas-based Paymentech ([http://www.paymentech.com]), founded in 1985, delivers electronic payment services in merchant acquiring and point-of-sale transaction processing. Paymentech, the payment solutions company, processed approximately 3.4 billion total transactions and $109 billion in bankcard sales volume in 2000. The nation’s largest processor and acquirer of bankcard transactions is also the Internet payment processing leader.
Austin, Texas-based ClearCommerce is a provider of e-commerce transaction software and services for enterprises and Commerce Service Providers, including Apple Computer, Chase Merchant Services, PETsMART and EDS. ClearCommerce provides transaction management technology directly and indirectly through Commerce Service Providers for more than 35,000 merchants worldwide. Features of ClearCommerce software include real-time credit card processing and Internet fraud protection, as well as online reports, storefront integration, back-end integration, shipping/tax calculation and delivery of digital merchandise. For more information, please visit [http://www.clearcommerce.com].