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| Purchasing Card Support |
“The Logic Group has provided a robust and reliable solution for authorising payments, by credit, debit and purchasing cards, in real time. The Purchase-Solution from The Logic Group has helped us to reduce bad debt and Improve debtor / creditor ratios. ” - Guilbert Niceday
Purchasing Cards are a specialised form of payment card, designed to streamline B2B purchasing. The ability to accept Purchasing Cards has grown rapidly amongst B2B merchants as major purchasers make the ability to accept Purchasing Cards a pre-requisite for preferred supplier status. Purchasing Cards have also had a significant impact in reducing the costs associated with purchase requisitions and invoicing for both customer and supplier.
The Logic Group’s Purchasing Card Solution combines the company’s industry leading authorisation (Solve/SE) and settlement (Solve-Payment) systems, enabling merchants to offer an combined solution for debit, credit and Purchasing Cards. The Logic Group was the first to market with an integrated solution to support Visa’s Global Invoicing System (VGIS) as well as being an early adopter in supporting the MasterCard (OneCard) and American Express schemes
| Purchasing Card Solution Features and Benefits |
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Cash Flow Improvements – Prompt payment is guaranteed and typically occurs within three to five days, removing the need to pursue late paying customers |
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Reduced Administration Costs – Increased automation of B2B purchasing functions with elimination of the need to manually produce purchase requisitions and distribute paper invoices. Both administrative costs and account handling time can be dramatically reduced. The use of purchasing cards is accepted by the treasury for VAT reporting. |
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Increased Business – Rapid growth in purchasing card adoption gives competitive advantage to merchants able to offer their customers the most sophisticated payments system |
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Fewer queries - The bank sends a single, fully itemised monthly statement to the buyers purchasing department detailing where and when each good was purchased. This reduces disputed invoices and improves efficiency for supplier and corporate alike |
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Improved customer service - Faster order processing means goods can be despatched faster, improving customer service |
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Comprehensive EFT solution covering authorisation, settlement and transfer. |
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Interoperable credit, debit and Purchasing Card solution that can be easily integrated into existing systems |
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Scalable solution that can adapt to the needs of both medium and large merchants |
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Supports multiple acquirers, merchants and stores |
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