accepting_payments hosted_tokenization hosted_tokenization hosted_price info_services hosted_paypage accepting_payments accepting_payments account_padlock account_padlock_hover_teal account_setup account_setup account_setup_black account_setup_teal alert_red alert_yellow benefits_balance benefits_balance benefits_health benefits_health_white benefits_pay benefits_pay_white benefits_perks business_convenience Install business_retail business_showroom business_takeout business_warehouse call_us_dark_blue call_us_teal call_us_white carousel_button_pause carousel_button_play check_blue check_white checkmark_circle_blue chevron_down_grey chevron_down_normal chevron_down_normal_black chevron_down_normal_dark_blue chevron_down_normal_hover_teal chevron_left_bold_dark_blue chevron_left_normal_black chevron_left_normal_white chevron_right_bold_dark_blue chevron_right_normal_black chevron_right_normal_white chevron_right_skinny chevron_up_normal chevron_up_normal_black chevron_up_normal_dark_blue chevron_up_normal_hover_teal circle_1_grey circle_1_teal circle_2_grey circle_2_teal circle_3_grey circle_3_teal clock_black close_x close_x_dark_blue close_x_hover_teal divot_down divot_left divot_left_outline divot_up email_receipts extra_location icon_fraud icon_fraud extra_register extra_users extra_users facebook flag_canada flag_usa form_checkmark form_checkmark_teal form_error_arrow_up google_plus innovation_api innovation_chip innovation_ecommerce innovation_hosted_pay_page innovation_new_merchant_guides innovation_seamless innovation_support innovation_teal innovation_white innovation_testing innovation_testing_teal linkedin location_pointer logo_moneris_full logo_moneris_full_hover logo_moneris_symbol logo_moneris_symbol_hover mail mail_teal map_marker max_cash_flow menu_hamburger menu_hamburger_hover_teal minus_normal payd_reports payd_reports payment_chip benefits_balance_2 PaydProPlus_report Increased Control Login Login payment_contactless security payment_swipe icon_management_payment people_teal phone_hover_teal phone_white plus_normal product_tracking real_time_report real_time_report_teal real_time_report_white search_magnifying_glass search_magnifying_glass_hover_teal service_billing service_consultation service_custom_dev service_dedicated_support_blue service_flexible_pricing_options_blue service_installation service_revenue_sharing_blue service_training_blue social_facebook social_linkedin social_twitter support_icon take_to_new_website_arrow take_to_new_website_arrow_hover_teal technical_questions technology_teal terminal_spec tips_troubleshooting triangle twitter vid_play_overlay ecommerce increase_sales increase_sales login settings mass_merchandise extra_user email support_icon price_arbitrage gift-card egift-card delivery seamless-gift-card accept-credit-debit max-cash-flow hardware PaydProPlus_report icon-circled_phone financial financial cash business_mgnt_soln information icon-deliver_electronic_data icon-deliver_electronic_data icon-bank icon-ecommerce icon-fraud icon-bank icon-management_payment-solution icon-creat_new_diff icon-maximized_cash_flow icon-credit_card icon-loyalty_card icon-optimized_spend icon-optimized_interchange icon-calendar icon-ppp_reports icon-product_track icon-product_track icon-partners icon-seamless_integration icon-receipt_fraud icon-decal-open icon-decal-open-fr hardware increase_sales elearning lightbulb consultation female settings call financial hardware settings call accepting_payments hosted_tokenization hosted_tokenization hosted_price info_services hosted_paypage accepting_payments account_padlock account_padlock_hover_teal account_setup account_setup account_setup_black account_setup_teal alert_red alert_yellow benefits_balance benefits_balance benefits_health benefits_health_white benefits_pay benefits_pay_white benefits_perks business_convenience Install business_retail business_showroom business_takeout business_warehouse call_us_dark_blue call_us_teal call_us_white carousel_button_pause carousel_button_play check_blue check_white checkmark_circle_blue chevron_down_grey chevron_down_normal chevron_down_normal_black chevron_down_normal_dark_blue chevron_down_normal_hover_teal chevron_left_bold_dark_blue chevron_left_normal_black chevron_left_normal_white chevron_right_bold_dark_blue chevron_right_normal_black chevron_right_normal_white chevron_right_skinny chevron_up_normal chevron_up_normal_black chevron_up_normal_dark_blue chevron_up_normal_hover_teal circle_1_grey circle_1_teal circle_2_grey circle_2_teal circle_3_grey circle_3_teal clock_black close_x close_x_dark_blue close_x_hover_teal divot_down divot_left divot_left_outline divot_up email_receipts extra_location icon_fraud icon_fraud extra_register extra_users extra_users facebook flag_canada flag_usa form_checkmark form_checkmark_teal form_error_arrow_up google_plus innovation_api innovation_chip innovation_ecommerce innovation_hosted_pay_page innovation_new_merchant_guides innovation_seamless innovation_support innovation_teal innovation_white innovation_testing innovation_testing_teal linkedin location_pointer logo_moneris_full logo_moneris_full_hover logo_moneris_symbol logo_moneris_symbol_hover mail mail_teal map_marker max_cash_flow menu_hamburger menu_hamburger_hover_teal minus_normal payd_reports payd_reports payment_chip benefits_balance_2 PaydProPlus_report Increased Control Login Login payment_contactless security payment_swipe icon_management_payment people_teal phone_hover_teal phone_white plus_normal product_tracking real_time_report real_time_report_teal real_time_report_white search_magnifying_glass search_magnifying_glass_hover_teal service_billing service_consultation service_custom_dev service_dedicated_support_blue service_flexible_pricing_options_blue service_installation service_revenue_sharing_blue service_training_blue social_facebook social_linkedin social_twitter support_icon take_to_new_website_arrow take_to_new_website_arrow_hover_teal technical_questions technology_teal terminal_spec tips_troubleshooting triangle twitter vid_play_overlay ecommerce increase_sales increase_sales login settings mass_merchandise extra_user email support_icon price_arbitrage gift-card egift-card delivery seamless-gift-card accept-credit-debit max-cash-flow hardware PaydProPlus_report icon-circled_phone financial cash business_mgnt_soln information icon-deliver_electronic_data icon-bank icon-ecommerce icon-fraud icon-bank icon-management_payment-solution icon-creat_new_diff icon-maximized_cash_flow icon-credit_card icon-loyalty_card icon-optimized_spend icon-optimized_interchange icon-calendar icon-ppp_reports icon-product_track icon-product_track icon-partners icon-seamless_integration icon-receipt_fraud

Moneris B2B Glossary

Defining B2B payment processing

Accounts Payable
Money a company owes for the procurement of goods or services; the department that processes or manages these details.
Accounts Receivable
Money owed to a company for the supply of goods or services; the department that processes or manages these details.
Business to Business (B2B)
Refers to the unique relationship and commercial transactions that occur between businesses. On some level, every business requires another business to operate, whether it’s the procurement or supply of raw materials, power, equipment or professional services such as design and accounting.
Buyer
A business purchasing goods or services from another business for commercial use.
Buyer Initiated Payment (BIP)
A B2B transaction made with a commercial card, whereby the buyer sends a direct credit card payment to a supplier’s bank account, with zero action required by the supplier. (See Supplier Initiated Payment, or SIP, as a comparison.)
Cheque
A traditional method of payment within B2B, wherein the buyer mails a physical, paper cheque, and the supplier deposits it in their bank. This method is costly and time consuming, and prey to problems including fraud, loss and delay.
Commercial Card
Issued by a bank, a commercial card is used by businesses. It can be physical or virtual, and can come with specific allowances and limitations, as determined by the bank and/or user.
Electronic Fund Transfer (EFT)
An electronic payment method of transferring funds directly from one bank account to another. Similar to cheques, an EFT requires that the issuer has sufficient funds to cover the transfer amount.
ePayables
Refers to a virtual commercial card. Like a physical credit card, it has a 16-digit card number, expiry date and CVC (card verification code), but only exists electronically.
Interchange Rate
A transaction fee charged to merchants in card-based transactions. This fee is paid to the card-issuing bank, and covers handling costs as well as costs related to reducing fraud and bad debt.
Level 1/2/3 Data*
Refers to the amount of information captured for a single card transaction. The more information a business provides with a transaction, the greater the data level becomes. This data is sent back to the business that made the original purchase and can be used by them to reconcile transactions.
  • Level 1 usually includes either address information or basic card-swipe data.
  • Level 2 includes everything from Level 1, plus additional details, typically tax details and invoice or purchase order numbers.
  • Level 3 includes the highest amount of data captured in a B2B transaction. It only applies to select corporate purchasing card transactions, and includes everything from Level 2 plus additional details like item-by-item descriptions of each component of the purchase.
Remittance Data
Transaction details provided to the supplier, such as invoice number, itemized goods or services purchased and buyer identification.
Straight Through Processing (STP)
An automated, electronic payment process that enables a supplier to receive payment from another business, without any action required.
Supplier
A business selling goods or services to another business for commercial use.
Supplier Initiated Payment (SIP)
A B2B transaction made with a commercial card, whereby the supplier collects the buyer’s card details and initiates the payment process. (See Buyer Initiated Payment, or BIP, as a comparison.)
Wire Transfer
An electronic payment method typically used for sending large sums of money between bank accounts or through a cash-transfer office.
Working Capital
Funds available to a business, which can be invested or used in day-to-day operations.

Accounts Payable

Money a company owes for the procurement of goods or services; the department that processes or manages these details.

Accounts Receivable

Money owed to a company for the supply of goods or services; the department that processes or manages these details.

Business to Business (B2B)

Refers to the unique relationship and commercial transactions that occur between businesses. On some level, every business requires another business to operate, whether it’s the procurement or supply of raw materials, power, equipment or professional services such as design and accounting.

Buyer

A business purchasing goods or services from another business for commercial use.

Buyer Initiated Payment (BIP)

A B2B transaction made with a commercial card, whereby the buyer sends a direct credit card payment to a supplier’s bank account, with zero action required by the supplier. (See Supplier Initiated Payment, or SIP, as a comparison.)

Cheque

A traditional method of payment within B2B, wherein the buyer mails a physical, paper cheque, and the supplier deposits it in their bank. This method is costly and time consuming, and prey to problems including fraud, loss and delay.

Commercial Card

Issued by a bank, a commercial card is used by businesses. It can be physical or virtual, and can come with specific allowances and limitations, as determined by the bank and/or user.

Electronic Fund Transfer (EFT)

An electronic payment method of transferring funds directly from one bank account to another. Similar to cheques, an EFT requires that the issuer has sufficient funds to cover the transfer amount.

ePayables

Refers to a virtual commercial card. Like a physical credit card, it has a 16-digit card number, expiry date and CVC (card verification code), but only exists electronically.

Interchange Rate

A transaction fee charged to merchants in card-based transactions. This fee is paid to the card-issuing bank, and covers handling costs as well as costs related to reducing fraud and bad debt.

Level 1/2/3 Data*

Refers to the amount of information captured for a single card transaction. The more information a business provides with a transaction, the greater the data level becomes. This data is sent back to the business that made the original purchase and can be used by them to reconcile transactions.

  • Level 1 usually includes either address information or basic card-swipe data.
  • Level 2 includes everything from Level 1, plus additional details, typically tax details and invoice or purchase order numbers.
  • Level 3 includes the highest amount of data captured in a B2B transaction. It only applies to select corporate purchasing card transactions, and includes everything from Level 2 plus additional details like item-by-item descriptions of each component of the purchase.

Remittance Data

Transaction details provided to the supplier, such as invoice number, itemized goods or services purchased and buyer identification.

Straight Through Processing (STP)

An automated, electronic payment process that enables a supplier to receive payment from another business, without any action required.

Supplier

A business selling goods or services to another business for commercial use.

Supplier Initiated Payment (SIP)

A B2B transaction made with a commercial card, whereby the supplier collects the buyer’s card details and initiates the payment process. (See Buyer Initiated Payment, or BIP, as a comparison.)

Wire Transfer

An electronic payment method typically used for sending large sums of money between bank accounts or through a cash-transfer office.

Working Capital

Funds available to a business, which can be invested or used in day-to-day operations.