Merchants who sell to the Government or other businesses should know the basics about level-3 processing. Level-3 processing is generally not discussed when merchants are evaluating merchant service providers. This is a big mistake and could be costing your business thousands of dollars monthly.
One reason is that most merchant services professionals are not familiar with Level-3 processing. Most merchants who have been educated on costs, insist on a cost plus rate structure. Level-3 processing can save you up to 85 basis points up and above just having cost plus.
If you process High Ticket Transactions. $6980-$500,000 the savings will be higher than 85 basis points. Level-3 processing takes additional line item detail of the sale and sends this along with the payment transactions resulting in a lower interchange rate.
Many merchants have been set up on a tiered rate structure which will automatically downgrade your commercial and GSA cards to Non Qualified. If you see Non Qualified on your statement or sell to other businesses and the government and not familiar with Level-3 its time to consult an experienced B2B and B2G payment processing professional.
Revolution payment systems has been in the payments space for over 17 years and has the tools, technology and education your company deserves.
Questions? Call 888 790 3450 or email [email protected]