Merchant Account For B2B Businesses
B2B(Business-to-Business) is the sales you make to other business rather than to your customers. You deal with companies and not with any person. B2B differs from B2C(Business-to-Customer) as transactions complete here through business cards or corporate cards.
Doing transactions with an individual customer requires level 1 credit card processing as it requires necessary essential details to process the transactions — details like credit card number and billing address to verify the payment. If you want to handle the sales for your B2B business you have to go a level up and will require level 2 or level 3 credit card processor. Level 2 or level 3 credit card processor is more secure as it requires more information than level 1 credit card processor. Additional information that level 2 or 3 requires to process the transaction are like tax amount, tax identification and many more. Though level 2 or 3 credit card processor works similarly like level 1 credit card processor, the only difference is that level 2 or 3 requires additional information as the transaction is for a company, not any individual.
Quadrapay is here to help you to provide a merchant account for your B2B businesses as our payment processing partners in the EU are offering you the merchant account under MCC (Merchant Category Code) 7399.
Why to choose Quadrapay for your B2B businesses?
- Our payment processor provides you with the flexibility of accepting payments from various modes. It allows you to accept payments from multiple credit cards, debit cards. You can also accept payments from eWallets, smart cards, virtual credit cards or even from your recurring bills.
- To accept these payments, we provide you with a secure payment gateway so that every transaction you make remains safe. Our payment gateway has PCI-DSS security compliance so that every time the customer makes any payment, it remains encrypted that prevents data loss and card theft activities. It ensures your customer to invest in your website, and they like to visit more or shop with you more as they have trust on your website.
- It is a smart online payment processor with a real-time reporting tool. It reduces your accounting hassle. It tracks all your transactions and makes a record of all of them. It keeps a record for all of your investors and partners with whom you make frequent transactions. You don’t have to worry about skipping a payment as it schedules the recurring payments and sets up a schedule for all your upcoming payments.
- Our payment processor supports multiple currencies so that you can make seamless transaction cross-border or international operations.
- Process any branded credit card or debit card through our payment processor at the lowest processing rate.
- There is no need for any additional software to run the payment processor with your system as our payment processing partners have already done that for you by installing all required software at one place.
- We do not charge you for joining us, hence no setup fees.
- No monthly fees because we only charge you when you make any transaction. We charge for every sale so if you want to rest or want to focus on other associated businesses you don’t have to worry about getting charged for this merchant account.
- No more surprises by revealing any hidden charges as we are transparent about the fees we take from you, and we also describe the costs to you briefly
- Our payment processing partners offer you POS terminal with equipment that lets you accept payments even when you are travelling, so that flow of transaction never stops.
- Quadrapay has 24/7 customer service that is efficient and always looking forward to helping you with any problem you face while using the online payment processor.
How will level 2 or level 3 credit card processor helps in your B2B businesses?
- Level 2 or 3 credit card processor increases your profit.
- It reduces your interchange fees.
- Increases your customer base by including more such companies who have level 2 or 3 credit card processors.
- Reduces frauds and chargebacks by warning you earlier as the customer raises any dispute.
- It has an extra level of security as it requires more delicate information to process the transaction.
Does level 2 and level 3 credit card processor costs more than level 1 credit card processor?
Level 2 and level 3 credit card processors cost you almost the same as level 1 credit card processor. You can always ask for a brief detailing of price, and if you are already using another processor, then we can negotiate the price and will see if we can beat or meet your current rate. Or else we can provide you with the best pricing model for your business.
How to get level 2 credit card processor?
To get a level 2 credit card processor, you need to provide details of:
- Purchase Order Number
- Tax Amount
- Tax Indicator
- Destination Zip
- Destination Address
- Destination City
- Requestor Name
- Requestor City
- Requestor State
Information required for level 3 credit card processor?
Level 3 payments require all the information that level 2 requires; however, level 3 becomes more secure. Hence it includes additional facts to minimise the transaction cost:
- Item ID
- Unit of measure (for each item)
- Commodity code
- Unit price
- Item description
- Increased amount
How to get a merchant account for your B2B businesses?
There is a typical checklist of documents required to get a merchant account for your B2B businesses:
- A Detailed Business plan
- Business Bank account details that should be within the EU
- Expected turnover
- Working website and its terms and conditions
- Average Sale price
- A detailed description of your services and products
- Complete information about the owners and the partners and they should be physically present in the EU
- Bank statements for the recent three months
- Processing history if any
- Valid government ID
After the submission of the required documents and filling up the application form, we start processing to get the approval of your merchant account.
If you want to get more details about our payment processor you can contact us anytime as we are available 24/7.
You can send an email on [email protected].
Or you can connect with us on Skype our Skype ID is Netcaller.