Businesses accepting commercial and or government transactions can take advantage of lower interchange rates by passing level 3 line item detail.
Level 3 processing is a more sophisticated way of accepting commercial and government cards and include additional enhanced transaction detail like you would find on an invoice.
A commercial transaction passed with level 3 line item detail vs. without it can be as high as 1.50%. This is before processors add a markup. If your looking for a way to reduce your transaction cost, consult with a level 3 merchant provider like Revolution Payments.
Revolution Payments is leading advocate and level 3 payments expert. We have made qualifying for level 3 very easy and in fact can help you qualify for the level 3 reduced interchange rates without you lifting a finger. Give us at 888 790 3450 or info@ revolution-payments.com to learn more.
To receive a No Obligation Level 3 processing audit fax your last months statement to 877 901 3181.
COMMERCIAL DATA RATE III
– T&E Merchants are ineligible to receive this rate.
– Transaction must be settled within 2 days of purchase date.
– Transaction may be swiped or keyed. Electronic auth required.
– Level II Data required.
– Level III Data (line item detail) required.
1.75% + 0.10, This varies based on transaction size, type of card, rewards, fleet, etc. Call for details.
Commercial Data Rate III Not Eligible: Travel and Entertainment – Restaurants (MCC 5812), Hotels (MCC 3501-3999, 7011), Car Rentals (MCC 3351-3500, 7512, 7513, 7519), and Passenger Transport (MCC 3000-3299, 4511, 4112)
COMMERCIAL PRODUCT LEVEL III
– Applies to all Purchasing and Corporate cards.
– Applies to all non-T&E MCC.
– CPS Qualification and Level III (line item detail) Data required.
Visa Business Cards Do Not qualify for Level 3 interchange.
1.85% + .10 cents.