Level-3 “transactional” Data

Level-3 “transactional” Data (Line Item Detail) is additional payment information entered on commercial and government transactions.  It defines what is being purchased, who is involved, how the transaction takes place and combines this information with basic payment data and sends it along with the payment transaction.

Visa and MasterCard created special interchange rates as a way to incentivize merchants to send level 3 payment information. This additional data helps the government and other companies manage their Purchase card programs more effectively.

By providing Level-3 data, a merchants may reduce their credit
card processing fees (commercial, GSA SmartPay, purchase and fleet transactions) – often by 30% to 40%.

Merchants who sell to other businesses or government who don’t send level 3 transaction data is leaving a big chunk of revenue on the table.  Interchange is the bulk of the fees a business pays to accept credit cards and goes back to the bank who issued the credit card.  Processors Receive NO revenue from interchange.

Level 3 lowers interchange on commercial transactions by up to 40%.  Merchants are gaining additional revenue that will otherwise go to the card issuing banks.

Setting up a level 3 merchant account is much different than a standard retail account and is recommended working with a level 3 payment adviser.   Just because a merchant sends Level 3 does not mean they automatically receive 100% of the available discounts.  Make sure you receive 100% of the available discounts by working with an experienced level 3 payment processor.

Revolution Payment Systems has been a leading advocate for merchants selling B2B and government suppliers for almost 20 years.

Speak to one of our level 3 payment consultants today.  888 790 3450 or email [email protected]

Revolution Payment Systems can also support Level 3 processing Through Quickbooks, mobile, swiped, Magento, and has a solution for merchants using authorize.net