With the many challenges facing business today, it’s no wonder many have relied on their bank or existing processor to set-up their credit card processing when it comes to accepting B2B, commercial or government credit cards from customers.
It’s regrettable that many businesses are unaware of the advantages that correct processing solutions can present.
Did you know?
MasterCard and Visa have created special rates to support commercial & government transactions reducing a merchants transaction costs (Interchange) if Level-3 line item detail information is processed with a transaction? These special interchange rates can reduce your cost by 1%-1.5%
What this basically means is that accepting a Government or commercial card without level 3 detail these qualify at different interchange codes and clear at level 1, costing you 1% or more before your processor adds whatever fee they will charge you for processing.
The ONLY way to receive Level 3 interchange rates is by including level 3 payment detail
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