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Take Advantage of Level 3 Processing

Businesses that frequently sells to other companies or government agencies can greatly benefit from Level 3 processing.

Level 3 processing was introduced as a way to offer discounts on B2B and B2G credit card transactions. This was done, in part, as a way for credit card companies to provide an incentive for businesses to make major transactions using their credit cards versus other forms of payment such as a check.

Accepting Level 3 transactions, even with a much lower interchange rate, is still an important revenue source for credit card companies. This combined with the value of higher level transaction data makes the discount well worth offering

The exact discount depends on the level of the transaction and, in some cases, the dollar amount of the transaction. However, in most cases the merchant will save between 1% to 1.5% on the interchange rate, which can translate into thousands of dollars in savings annually.

What Transactions Are Eligible for Level 3 Processing?

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

Commercial credit cards is a term used to describe the following card types; business cards, corporate cards, fleet cards, purchasing cards, and GSA SmartPay® cards.

Consumer credit and debit cards do not qualify for Level 3 interchange. Only commercial cards are eligible for this discounted pricing program.

How Can I Take Advantage of Level 3 Processing?

If your business or ogranization accepts commercial credit payments, then chances are you’re probably very interested in qualifying for these reduced interchange rates.

The tricky part is the fact that you need to provide the required Level 3 data at the time of sale. If you’re using a standard countetop POS terminal, it doesn’t have the technical capacity to relay this data at the time of purchase.

The primary reason why standard POS terminals cannot perform this function is the fact that many of the data fields needed for Level 3 transactions require text inputs – and most POS terminals only have a numeric keypad.

But do not worry because we offer a customized virtual terminal that can process Level 3 transactions in the same amount of time that it takes to process a standard credit card transaction.

Our virtual terminal will auto-fill the required Level 3 data, allowing your business to receive the substantial savings that Level 3 Processing provides, without doing any additional upftont work. We can even setup the virtual terminal to process both keyed-in and retail transactions. That way ALL of your commercial card transactions can qualify for the reduced interchange rates.

To find out how much your business could be saving, please contact us today for a no-obligation FREE rate quote. We will complete and return your free quote within 24 hours.

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