If your company sells to other businesses or the government your business the benefits from implementing level 3 processing can be very significant.
What is Level 3 processing?
Level 3 processing is a more advanced way to accept commercial transactions, it involves including more information with a payment transaction which in turn qualifies you for a lower transaction cost. Level 3 can lower your transaction cost by up to 40%. Level 3 allows you to capture revenue you Can Not receive from a processor simply lowering your rate.
Line item detail/Level 3 really defines what’s being purchased, description of the product and the parties involved etc. It can include up to 12 fields of additional data that is passed through with a transaction
Special Interchange Rates
Visa and MasterCard created special interchange rates by lowering the transaction cost when level 3 line item detail is included in with a payment transaction. This line item detail shows up on a customers bank statement and helps them manage spending more effectively. (Please Note, Information will only show up on a customers bank statement if they have a purchase card program in place)
Whether a customer has a purchase card program place or not, as long as level 3 line item detail is presented and your merchant account is set up properly, you receive the lower transaction cost.
Revolution Payments Makes Qualifying for Level 3 interchange easy.
Qualifying for level 3 interchange is easier than you may think. Revolution Payments can qualify you for level 3 interchange rates without lifting a finger or changing the way you do business. To learn more call one of our level 3 consultants at 888 790 3450 or email info@ revolution-payments.com
You can also fax your last months processing statement to 877.901.3181 for a No Obligation Level 3 analysis and review.
Many merchants have been conditioned by sales people who rarely do more than pitch a lower rate. Not working with an experienced level 3 payment consultant will cost you 40% more on every commercial related transaction you process. This is before your processor even adds their markup.