Level 3 Credit Card Processing
Level 3 Credit Card Processing and the benefits for B2B & B2G credit card transactions.
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 Purchase Card programs reducing a vendor’s transaction costs (Interchange) if Level-3 line item detail information is processed with a transaction?
By providing Level-3 data, a supplier may reduce their credit card processing fees – often by 30% to 40% before processors add their fee.
What this basically means is that accepting a Government or commercial card without level 3 processing detail these qualify at different interchange codes and cost you 1% more for reasons that have nothing to do with your current rate or processor?
Here’s why. commercial transactions have 1 of 3 different interchange rates? Level 1, level 2 or level 3, depending on whether or not level 3 payment detail was processed with a transaction?
The “interchange” cost of accepting a commercial card w/o level 3 detail or at level 1 varies from .80%-1.5%. This happens before processors add their processing fee.To support acceptance of these cards, MC & Visa have reduced interchange rates associated with these cards if Level-2 & Level-3 data is included in the transaction
Revolution Payments developed technology that automates this and helps businesses meet these requirements resulting in qualifying for MasterCard and Visa’s lower rates. These reduced rates are passed on to you dramatically lowering your fees saving in many cases as much 1%-1.5%
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Give us a call at 888 790 3450 to receive your no obligation level 3 credit card processing rate quote today!