RealTime IT News

Thomas Register, Visa in Purchasing Card Agreement

Thomas Register on the Internet signed an agreement with Visa U.S.A. whereby buyers can use the Visa Purchasing card, Visa credit card or other Visa payment products for purchases via Order Online, Thomas Register's e- commerce site.

The agreement will provide instant sourcing and a one-stop purchasing process for potential buyers searching on Thomas Register on the Internet, an online directory of industrial products and services. It also enables Visa Purchasing card users to obtain enhanced transaction data on their purchases made on Order Online.

"Offering the Visa Purchasing card as a payment option provides Thomas' online buyers and suppliers with a number of benefits," said Pat Daloisio, associate publisher of Thomas Register. "Not only does it make the payment process more efficient and cost effective for those using and accepting purchasing cards, but it also enables merchants to attract further business both from government purchasers and the 75 percent of Fortune 500 companies that use purchasing cards."

"Visa's alliance with Thomas Register represents a major step towards increasing purchasing card acceptance from both suppliers online and off-line, while at the same time helping Visa cardholders source goods and services," said Cory Gaines, vice president for merchant development and acceptance at Visa U.S.A.

Cardholders purchasing through Thomas Register's Order Online will receive "Level 3" transaction data, the maximum amount of information available for corporate procurement. This data replicates most information found on a supplier invoice in the traditional paper-based environment.

"Traditionally, this data sought by Fortune 500 and government purchasers was only made available by larger merchants," said Carl T. Holst-Knudsen, president of Thomas Publishing Co. "With the Thomas Register/Visa partnership making 'Level 3' available for all our merchants accepting the Visa Purchasing card, smaller and medium size companies can better compete for the business of government and industrial buyers."

As part of the joint marketing agreement between the companies, the Visa Web site will feature a direct link to Thomas Register on the Internet. First Data Merchant Services has been selected to process real time credit card authorizations and the enhanced transaction data to buyers.