A Growing Method of Payment Evolves Online
May 1, 2006
The government has increased its demand for detailed data on purchases (known in the Commercial Card Industry as Level III data), and procedural transparency. Meanwhile, commercial sellers require more cost effective rates for accepting Purchase Cards as payment. To satisfy both sides of the transaction, a combination of strategic sourcing and online marketplaces have begun automating process documentation, facilitating availability of Level III data, and enabling lower interchange rates. Dennis Fischer provides insight and analysis of these developments in an article published in the May 2006 issue of the National Contract Management Association’s Contract Management magazine
