Visa’s Commercial Enhanced Data Program: What You and Your Merchants Need to Know

When Visa made a significant push into business procurement spending more than 30 years ago, one of the early challenges it identified was the need for more data about what was purchased. Businesses relied on traditional supplier invoices to capture details about what was purchased and, most importantly for tax purposes, whether the expense was a capital purchase or for maintenance purposes. Standard card transaction statement data provided only the amount spent and the seller's details. 

Subsequently, Visa created interchange categories that enabled merchants to pass on tax-related data along with transactions so card issuers could report it to purchasers on their card statements. But there have been holes in those processes, and now Visa is introducing its Commercial Enhanced Data Program, aimed at closing these gaps and delivering more robust data to purchasers. Participating merchants face a validation procedure and in exchange will get additional interchange cost savings.

Companies Mentioned: 

Visa