What is abas PAY?
abas PAY is a payment processing solution powered by Vantage that improves the control and accountability of business-to-business payments while lowering costs for abas users. Today, B2B commerce and invoicing are being transformed by the use of commercial card products like corporate, business, purchasing and GSA (government) purchasing cards (p-cards). Interchange is the single largest component of a merchant’s discount rate pricing and is collected and paid to the card issuing bank. abas PAY ensures that users receive the best available interchange rate, keeping costs as low as possible.
Level 3 Processing
Level 3 processing refers to passing the line item detail from the invoice when submitting the sale transaction for settlement. Using abas PAY, merchants benefit from passing required Level 3 Data with sale transactions, which is additional information about a transaction commonly found on an invoice, such as product/service descriptions, quantities and other details. This allows users to save by receiving the lowest available interchange rates issued by Visa and MasterCard.
In B2B commerce where repeat and recurring business and government orders are the norm, tokenization is an important component of your payment acceptance strategy. Tokenization replaces sensitive data such as primary account numbers (card or checking) with a “token,” and removes the value of the data to criminals while maintaining its value to your business. Limiting contact to sensitive payment data can dramatically reduce your Payment Card Industry Data Security Standards (PCI DSS) compliance scope and provide significant risk mitigation. abas PAY requires you to use tokenization to improve overall security.
How abas PAY ensures security
abas PAY increases security in a number of ways. There is an option available to e-mail a secure payment form to your customer that will then create a card or ACH token that can be used in the future, so you never have to handle the customer’s sensitive payment data at all. This would be the best practice for you and your customers because they are the only ones handling their confidential information and the abas user only interacts with the token number. The post authorization infosystem also supports multiple charges with one credit card transaction. This is beneficial in scenarios where the customer requires a specific amount, such as the lump sum of multiple invoices, to be charged as a single transaction in order for payment authorization to take place. When customers never want their payment method stored to their profile, even as a token, then a one-time use token can be used. abas PAY is also able to securely handle Automated Clearing House (ACH) payments. ACH vendor payments can be accepted in all the same ways as card payments, tokenized and securely stores as a payment method in your customer’s profile.
Benefits of abas PAY
- Qualify for the best card payment processing rate
- Process consumer, commercial and international card payments at lowest possible costs
- Meets GSA & P-card Level 3 data requirements
- Store customer and payment profiles in PCI DSS data vault
- Process recurring and repeat payments
- Eliminate the need to re-key data when entering payment information
- Increase card data security
- Minimize time spent on payment processes