This is the direction the OCCM is pursuing because it gives the government two distinct advantages:
- Getting the lowest possible price from suppliers is a direct reflection of the lower rates available when level-3 data is included in the payment transaction.
- Level-3 data provides the transparency that both corporate and government offices are interested in gaining.
What most businesses do not know is that standard merchant accounts are not set up to process level 3 transactions. This requires specific technology as well as certain things your processor need to do to ensure you receive the level 3 incentivized rates.
If you are selling goods or services to other corporations or to government agencies you would be wise to ensure your merchant account is set up specifically to process level-2 and level -3.
Below is a sample statement of a Revolution client who sells to GSA and other businesses an keys in 100% of his transactions and is paying between 1.80%-1.97% for these transactions
Compare this to what you see on your current statement and keep in mind. The ONLY Way To Recieve Level-3 Rates from Visa and MasterCard for GSA, Purchasing, Corporate and Business Cards is if your passing Level-3 Data.
Are you processing transactions over $6,980. If so, these qualify for High Ticket Interchange which Starts at 1.45% and goes down as your tickets go up.