Business-to-business (B2B) and business-to-government transactions allow a higher level of transaction detail than traditional business-to-consumer credit card transactions. Level 3 line item detail refers to additional information about a sale, that is included with the payment transaction.
Level 3 requires information such as PO #, description, quantity etc. Information like you would generally find on an invoice.
By providing level 3 line item detail, it entitles you to receive reduced interchange rates. If your processor sets your account up properly and passes 100% of this savings along to you, it could easily reduce your transaction cost by up to 40%. Just because you send level 3 payment information, does not mean you automatically receive 100% of the available discounts.
Contact one of revolution payments level 3 payment consultants to learn more about level-3 processing and the benefits it will provide your company.
888 790 3450 or [email protected] revolution-payments.com