What is Level 3 Processing
Level 3 processing refers to passing of line item detail from an invoice when processing a Business-t0-Business or Business-to-Government Transaction.
Level is information consists of product codes, product description, and PO #. Information you would generally find on an invoice.
Visa and MasterCard have different rates for B2B and B2G transactions when line item detail is provided. Many merchants believe because they have cost + they have the best rate possible. If you accept credit cards from businesses and or the government and not sending line item or level 3 data, your leaving money on the table.
Level 3 interchange on commercial, purchasing and business cards are about 30% less and should expect to save $10 for every $1000 processed. This can be much higher depending on whether or not your processor has you set up to properly.
Level 3 requires a payment gateway capable of passing level 3 data and you need the proper rate structure.
If your considering level 3, have questions or would like a FREE apples to apples comparison with a current statement give us a call at 888 790 3450 or email [email protected] revolution-payments.com