This is one of the first questions merchants often ask me during a conversation. Rate is important but keep this in mind, 75%-90% of the fees you pay don’t even go to your processor, they actually go back to the bank that issued the credit card.  This is referred to as interchange, interchange is the…

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Important news for merchants who want to save thousands of dollars in credit card processing fees annually.   You probably already know that Visa and MasterCard use “interchange fees” to determine how much you pay an issuing bank each time you accept a credit card order.   What the banks and credit card processing companies…

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Level 2 & Level 3 Enhanced Data Processing

Level 3 Credit Card Processing My name is Sean Jones; I’ve been in the Merchant Services industry for 20 years. Today I’m sharing a secret most banks would prefer you didn’t know & Expose you to new technology that will add up to 1.5% to your profit margins on your B2B & B2G transactions regardless…

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To fully grasp how level 3 processing reduces your processing costs you first need to understand that the bulk of fees you’re paying  to accept credit card goes directly back to the card issuing bank. This is called Interchange. Believe it or not, Visa/MasterCard and your processor receive no revenue from interchange.  If you’ve ever…

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Submitting Level 3 line item detail substantially reduces interchange rates on Purchasing, Corporate, Commercial, Fleet, Business (MasterCard) and Government credit cards. Processing Level 3 data requires more sophisticated payment technology able to process the additional line item requirements. Stand alone terminals and most payment gateways do not support Level 3 Processing. What is Level 3 processing?…

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Level 2 & Level 3 Enhanced Data Processing

Commercial, purchasing and business cards are used like personal credit cards, however they offer employers enhanced reporting and valuable features and capabilities.  These cards carry higher interchange rates, however many merchants can qualify for lower interchange rates by collecting Level II and Level III payment data. Level II Data includes: A Tax Indicator denoting the…

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