Interchange Optimization

Interchange Optimization & Level 3 Processing Can Add 1% to your bottom line – Now…

 

Visa and MasterCard Commercial and Business credit card transactions fall into one of three processing categories: Level 1, Level 2 and Level 3. With Level 1 having the highest rates and Level 3 having the lowest.

Corporate and Business card rates are expensive. Adding transaction detail such as customer name, transaction amount, tax amount, transaction date, PO number, etc. can reduce fees by as much as 1%. This is known as interchange optimization and Level 2 and Level 3 Data. This is information many businesses collect anyway.

 

LEVEL 1 PROCESSING

 

Level 1 processing refers to business-to-consumer (B2C) transactions, during which consumers use their personal credit or debit cards to make both small and large purchases.

DATA REQUIRED FOR A LEVEL 1 TRANSACTION:

  • Merchant Name

  • Transactions Amount

  • Date

 

 

LEVEL 2 PROCESSING

 

Level 2 processing refers to a more detailed transaction between two businesses, commonly referred to as B2B payment processing. Many businesses and government agencies require specific payment methods, giving them the ability to monitor and control employee spending.

 

ADDITIONAL DATA REQUIRED FOR A LEVEL 2 TRANSACTION:

  • Tax amount

  • Customer code

  • Merchant postal code

  • Tax identification

  • Merchant minority code

  • Merchant State code

 

 

LEVEL 3 PROCESSING

 

Level 3 Processing requires the most detailed data, and these transactions are often made with business and purchasing credit cards. By providing this additional data at the time of the sale, Visa and MasterCard offer substantially lower interchange rates on these transactions.

ADDITIONAL DATA REQUIRED FOR A LEVEL 3 TRANSACTION:

  • Product Codes

  • Item Descriptions and Quantities

  • Item tax rate

  • Freight amount

  • Destination postal code

  • Destination country code

 

 

PROCESSING LEVEL 3 TRANSACTIONS

 

Level 3 transactions can be processed in the same amount of time that it takes to process a standard credit card transaction on a customized virtual terminal.

Virtual terminals can auto-fill the required Level 3 data, allowing your business to receive the substantial savings that Level 3 Processing provides, without doing any additional work. We can setup the virtual terminal to process both keyed-in and retail transactions.

FEATURES OF OUR LEVEL 3 VIRTUAL TERMINAL:

  • Automatically alerts users when a transaction qualifies for Level 3

  • Automatically populates the required Level 3 data

  • Recurring billing options

  • Can be setup to process both Retail and MO/TO transactions

  • Create customer profiles which can securely store card holder data

  • 100% Web-based — No downloading of software

  • No Setup Fees

  • 24/7 Live Technical Support

  • Enhanced Reporting Tools

 

LEVEL 3 INTERCHANGE RATES

Other than lowering costs, how else can we help you?

Whatever your pain-points or like-to-haves may be, chances are we can help you. We have a variety of integrated tools that are easy to implement and use. All we ask for is an hour of your time to understand your wants, needs and concerns.

Free Assessment

For an assessment to see how we can help your organization click here.