Companies that sell to the government or other businesses should not overlook Level 3 processing.
Implementing level 3 processing could have a huge impact on your bottom line. I have been in the payments industry for about 18 years and know many merchants are numb when they hear the word merchant services.
Merchants are receiving so many calls regarding merchant services they have conditioned to turn most processors away. I feel your pain. It seems like everyone is now selling merchant services. The scary thing is that sales professionals don’t need any special training to sell merchant services.
Unfortunately most are not trained in the complexity of interchange or how it works. This is resulting in merchants paying to much to process Commercial, P-Cards, Business and GSA or transactions downgrading to Non-Qualified.
Keep this in mind!
No matter your processor, regardless of how large your company is, who your bank is:
Cost for accepting credit cards is the same! This is called interchange and amounts to 85% or more of the rate you pay.
Anytime you take a card out and pay for a purchase the credit card issuing bank gets interchange back on that sale.
This is regulated by Visa and MasterCard, NOT credit card processors.
Visa and MasterCard have Higher Rates for Commercial, Business, and Purchase Cards when Level 3 Data is NOT provided.
If your processor said; You have the lowest rate, no one is going to beat your rate or your bank is doing your processing and your not set up properly to send level 3 data on B2B
and B2G transactions your leaving money on the table.
Level 3 savings could save you $10 for every $1,000 processed. Depending on your rate structure this could be much higher. We have seen as high as $50 for every $1000.
If you have questions about level 3 processing or want to talk to one of our payment specialists give us a call at 888 790 3450 or email [email protected]