The government is making a shift in the way they are accepting credit cards and something you need should prepare for. When the GSA SmartPay program was initiated in 1989 level-3 data was not a requirement. That is starting to change. GSA has added Level-3 processing as a requirement for some of the contracts recently awarded, especially the Strategic Sourcing BPAs on GSA Schedule. The government is also encouraging buyers to look for vendors who can provide level 3 data.
Processing level 3 line item detail allows any business to reduce their transaction cost while looking more attractive to government buyers.
Congress is moving toward passage of the Government Charge Card Abuse Prevention Act, which requires federal agencies to implement safeguards and controls on government credit cards. Level 3 detail will reduce fraud by insuring only authorized purchases are occurring.
To learn more about level 3 processing or take advantage of Revolutions No Obligation purchase card audit, give us a call at 888 790 3450 or email [email protected] revolution-payments.com
Revolution Payments also supports Level 3 detail in: Quickbooks, Magento and has a solution for Authorize.net users.
PS. If you process commercial cards from your clients, GSA and non GSA and not processing level 3 data, your leaving a big chunk of revenue on behind. This is revenue you Can Not get from your processor simply lowering your rate. Call for details