B2B Payment API Features
The Top Three Payment Features for B2B Software
Software designed to support B2B calls for specialized payment features. Software providers should look for a payment processing partner with B2B payment API features that can deliver the three essentials discussed below.
Level II and III Processing
Providing additional transaction data can qualify B2B transactions for lower interchange rates. Level II and III transactions involve substantially more information than a basic Level I transaction:
- Level I: transaction amount, date, merchant category code and supplier or retailer name
- Level II: Level I data plus sales tax amount, customer code, merchant postal code, merchant tax ID, invoice number and order number
- Level III: Level I and II data plus product codes and descriptions, unit prices, quantities, units of measure, extended prices, line discounts, net/gross indicator, tax rate and type, debit or credit indicator, alternate tax identifier, ship to postal code, freight and duty amounts
It can be difficult to enter Level II or III information into a conventional POS device or checkout interface. The payment API will make it easier to obtain this information. A robust integration can do a lot of the work by automatically supplying data.
Whether its software that supports supply chain management, manufacturing or other warehouse distribution business types many of these need ACH capabilities as an additional payment type. Finding a payments partner that can handle both credit, debit and ACH transactions will help you not only achieve the most functional integration, but your customers will be able to quickly streamline their business operations with ease.
PCI DSS Compliance
As a software provider you must ensure that your software helps merchants reduce their PCI compliance scope. A payment processing partner can ensure that the most stringent security requirements are satisfied while limiting the responsibility for compliance on the part of the software provider. A successful integration can achieve these goals and provide the functionality necessary for secure transactions among your B2B customers.
Developers should partner with a payment processor that supports Level II and III data and works with businesses to take advantage of the benefits available to B2B merchants while minimizing the burden of PCI compliance. Find out more about the features available in Paragon’s robust payment API.
Ready to see our API or open a test account? Looking for more information on our Partner Programs? Are you a merchant with a question? We are here to help!