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Level 3 Credit Card Processing Befits for B2B and Government credit cards.

Level 3 Processing

With the many challenges facing businesses today, it’s no wonder so many are relying on their banks or existing credit card processors to set them up to accept Business & Government credit cards.

Even if someone has good intentions and honestly trying to do a good job for you, their inexperience may be driving your costs up

Here’s why!

Level 3 processing reclassifies a portion of the interchange fees businesses pay to accept credit cards, which is not related to the rate your processor charges.

These interchange fees go back to the card issuing bank, and amount to 75%-90% of your total expense for accepting credit cards. B2B and government transactions fall into 1 of 3 interchange levels. Level 1, Level 2 and Level 3, the higher the level, the lower the interchange rate.

Only transactions passed with level 3 line item detail will qualify at level 3 interchange.

Credit card processors receive no incentive for offering you level 3 processing, nor are they required to make sure that businesses are properly set up to accept credit cards in the most efficient and economical matter.

To support acceptance of corporate, Business and Government Purchase cards MC & Visa have reduced interchange rates associated with these cards if Level-3 data is included in the credit card transaction.

This savings is available for any size ticket,
HOWEVER savings can be further increased for businesses by enrolling in the “Large Ticket Interchange” program.

Here is a breakdown

Non-Government
Visa Commercial & P-cards >$6,980.00 1.45%
MasterCard Comm & P-cards >$7,255.00 1.25%

Rates can vary depending on the type of card and ticket amount.

 

Government
Visa Government Purchase cards $5,984.61 >1.2%
MasterCard Government P-cards >$7,255.00 > 1.25%

By providing Level 3 data, a business or government contractor can substantially reduce their credit card processing fees – sometimes by up to 40%.

Revolution Payments developed technology to help businesses meet the requirements resulting in qualifying for MasterCard and Visa Level 3 interchange rates adding from .85%-1.5% or more to your profit margins.

If you’re not set up for level 3 processing, and adding from .85%-1.5% to your profit margins on the credit cards you accept from other businesses and government have an impact on your business, give us a call
888 790 3450 for your no obligation level 3 rate quote.