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Tag Archives: Level-3

FTSWPA’s Technology Reduces Contractors Processing Fees – PART 2

As I mentioned in my previous article the collection of transactional information called Level-2 and Level-3 data is the key to qualifying for the best rates MasterCard and Visa has to offer.

To show the importance of Level-2 and Level-3 processing in the corporate community, we look toward the efforts that are being made at the government office of the General Services Administration (GSA).

The Office of Charge Card Management (OCCM) at the GSA has begun implementing a program that encourages government… Read More »

Turning Frustration into Opportunity

With FSSI in full swing and many contractors trying to fit the pieces together, one area that is often forgotten but most important is getting paid. While FSSI is requiring that contractors provide Level III line item detail, the benefit that this can provide to the contractor is often overlooked. By providing Level III data, the contractor can save a significant amount of money and reduce the amount they pay to the card companies. This by itself has tremendous value… Read More »

GSA’s Hunger Games – Government Contractors – “Clear Winners and Losers”…

Guest Post- Jennifer Schaus of Jennifer Schaus and Associates

 

 Today Government Charge Card is pleased to publish a piece by Jennifer Schaus. Jennifer is the principal of Jennifer Schaus & Associates, a boutique government consulting firm in Washington, DC with offices in Rome, Italy.  The organization helps small, mid-size, Fortune 500, domestic and international firms with government contracting; GSA Schedules to 8a Certification as well as sales, marketing and lobbying.

 

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Yes, “Clear Winners and Losers” – GSA’s words, not… Read More »

Government Contractor Lending Programs: Another Arrow in the Quiver for Banks

Many banks, especially in the Washington, DC area, have developed special programs for lending to federal contractors.  These include Virginia Commerce Bank, John Marshall Bank, First Virginia Community Bank, Capital Bank, Virginia Heritage Bank, Sandy Spring Bank, Xenith Bank, United Bank, Access National Bank, Cardinal Bank, Bank of Georgetown, and Freedom Bank of Virginia.  These institutions understand that working with businesses that have the government as their main customer requires specialized knowledge and expertise.

Washington Technology had an article about one… Read More »

The Goverment has their Initiative. Whats yours? Lower Costs.

The pricing in your bids to the government just got a lot more competitive.The Office of Management and Budget (OMB) released a memo on December 5, 2012 that outlines the focus of more Strategic Sourcing Initiatives.

As OMB’s Deputy Director Jeffrey Zients notes in the memo, “One key way agencies have saved money is by pooling their spending, either by centralizing the agency’s contracting decisions or by using government-wide strategic sourcing vehicles, in order to lower prices and reduce duplication and… Read More »

Government’s Federal Strategic Sourcing Initiatives Gets More Momentum

A memo released by the Office of Management and Budget (OMB) on December 5, 2012 focused on continuing to new direction on federal procurement practices. As OMB’s Deputy Director Jeffrey Zients notes in his Dec. 5 memo, “One key way agencies have saved money is by pooling their spending, either by centralizing the agency’s contracting decisions or by using government-wide strategic sourcing vehicles, in order to lower prices and reduce duplication and reduce administrative costs.” Building on established… Read More »

More Strategic Sourcing Is Coming! Are You Prepared?

In a recent article at the Federal Times, Sarah Chacko wrote about the impending changes to the Strategic Sourcing Initiative.

The GSA implemented Strategic Sourcing Initiatives to reduce costs and improve the overall procurement experience. According to the GSA, FSSI has been implementing strategic sourcing solutions for the government since 2005.  The initiative has proven results that include cost savings, improved management visibility and adoption of industry and government agencies best practices. The initiative also has helped improve government management of commonly purchased goods… Read More »

Guest Post – Stephanie Levine of Princeton Payment Solutions

Government Charge Card is pleased to publish the following guest post by Stephanie Levine, Director of Marketing at Princeton Payment Solutions (PPS). PPS is a division of Financial Transaction Services (FTS) who provides comprehensive responses to critical payment components for clients.

In the article below Stephanie discusses the importance of Oracle EBS, GSA SmartPay2 ™ and Level-3 data and especially PCI Compliance for companies doing business with the U.S. government.

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Kicking it Up by Shrinking it Down: Level 3 and Reducing the… Read More »

Government Charge Card Abuse Prevention Act Finally Passed

In previous posts, we have mentioned that a new law was in the works that would require federal agencies to put new safeguards and controls on government charge card use by federal employees.  As Jack Moore of Federal News Radio reports, the Government Charge Card Abuse Prevention Act of 2012 was signed into law on October 5th, and agencies will now face stricter rules for issuing and tracking government charge cards.  The legislation was introduced by Sen…. Read More »

The Confusion Behind Level 3 (Part 2)

In an earlier article, I wrote about how the cost of processing a credit card (the interchange) is dependent on multiple factors such as the type of card issued, how it is processed, and the type of business that it is used in. Taking the data that is required a step farther, below is a summary of the required data elements that make up all levels of processing:

LINE ITEM DATA

LEVEL 1

LEVEL 2

LEVEL 3

Merchant Name

X

X

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