Capturing level II and III data if you accept commercial or government transactions
Did you know your company can qualify for lower interchange rates by collecting more information when you process a commercial, fleet, purchase, business or government credit card?
By programming your credit card terminal to prompt for 2 things, you can gain up to a half % of additional revenue that is currently going to the card issuers or by entering a few fields of information into your virtual terminal you can reduce interchange by up to 1.50%? 100% of interchange goes to the credit card issuing bank and remains the same regardless of your processor.
Interchange also amounts to 75%-80% of the fees businesses incur to accept credit cards, level II and Level III enhanced detail is something most banks don’t want you to know, because once you do, working with an experienced B2B or B2G payment consultant allow you to convert a big chunk of this revenue back to your bottom line.
If your current payment consultant has Not talked to you about this, I suggest getting a second opinion from an experienced level II or III Payment professional. Having a low rate is great, but the best of the best consultants can help you add up to 1.50% of additional revenue to your bottom line by implementing value enhancing technology and education most sales reps Do Not understand.
Questions on processing level 2 or level 3 enhanced payment detail call us at 888 790 3450 or email info @revolution-payments.om
PS. Sell to the government? Ask us how level 3 processing can help increase government sales.