Archive for the ‘Level 3 processing’ Category

Capturing level II and III data if you accept commercial or government tranasactions

Saturday, November 22nd, 2014

 

Did you know your company can qualify for lower interchange rates by collecting more information when you process a commercial, fleet, purchase, business or government credit card?

By programming your credit card terminal to prompt for 2 things, you can gain up to a half % of additional revenue that is currently going to the card issuers  or by entering a few fields of information into your virtual terminal you can reduce interchange by up to 1.50%?  100% of interchange goes to the credit card issuing bank and remains the same regardless of your processor.

Interchange also amounts to 75%-80% of the fees businesses incur to accept credit cards, level II and Level  III enhanced detail is something most banks don’t want you to know, because once you do, working with an experienced B2B or B2G payment consultant allow you to convert a big chunk of this revenue back to your bottom line.

If your current payment consultant has Not talked to you about this, I suggest getting a second opinion from an experienced level II or III Payment professional.  Having a low rate is great, but the best of the best consultants can help you add up to 1.50% of additional revenue to your bottom line by implementing value enhancing technology and education most sales reps Do Not understand.
Questions on processing level 2 or level 3 enhanced payment detail call us at 888 790 3450 or email info @revolution-payments.om

 

PS. Sell to the government? Ask us how level 3 processing can help increase government sales.

 

How to save money accepting commercial cards by including level 3 line item detail

Saturday, November 8th, 2014

Processing Level III Line item detail is a must for any business accepting government cards, fleet cards, commercial cards and purchase cards.

Not sending level 3 and working with an experienced level 3 payment processor and your losing up to 40% of additional revenue on every commercial related transaction.

Level III processing defines whats being purchased (like an invoice) and  passes along with the payment transaction.

 

Level III qualified transactions can save a merchant up to $10.00 per $1,000 in sales.

The majority of merchants are either unaware of level 3 and its advantages or unwilling to set up a  level 3 merchant account due to the initial implementation times and additional line item detail required when transmitting a sale.

 

Revolution Payment Systems’ Level III payment solutions and experience  allow merchants to pass level 3 detail with ease.  We have also been serving the Business-2-Business and Business-2-Government space for

almost 20 years.

 

If you have questions about processing level 3 detail or would like to speak to one of our level 3 processing experts give us a call at 888 790 3450 or email info @ revolution-payments.com

PS.  Revolution payment systems can support Level 3 processing through Quickbooks, mobile, e-commerce, Magento and has a solution for authorize.net users.

Revolution Payment Systems, Leading the way when it comes to Level-3 Line item detail

Friday, October 24th, 2014

Revolution Payment Systems, Leading the way when it comes to Level-3 Line item detail

Many business owners who sell to other businesses and or government process these transactions no different than any other transaction they accept

This is costing you additional revenue that should be going to your bottom line.

On the surface, a Commercial and Purchase look like a typical   credit card, but possesses more features, controls and capabilities.

They Can Be Set Up To Control

•   Daily Spend

•   Number of monthly transactions

•   Monthly Spending

•   Amount allowed per transaction 

•   Daily Transactions

•   Where the card can be used (Industry Type)

 

These cards can also be processed with Level-3 Line Item Detail.  Level-3 detail defines what’s being purchased and includes this with the credit card transaction.

Commercial Cards were created with tiered interchange rates to encourage GSA government vendors to pass level 3 detail which in turns lowers cost often by 40% or more.100% of interchange goes back to the bank that issued the credit card and remains the same regardless of the processor you choose.  Level 3 allows you to capture additional revue  this is and will otherwise go back to the card issuing bank.

Level-3 requires different technology and a sales professional who understands Level 3 Processing.  Because a merchant sends level 3 processing detail Does Not mean you automatically receive Level 3 rates.

 

Revolution Payment Systems has the ability to pass level 3 line item detail on your behalf without changing the way you do business.  We can also support Level 3 detail with Quickbooks, Magento, Mobile, Swiped and have a solution for merchants using authorize.net and shopkeep.

Questions? Give us a call at 888 790 3450 or email info @ revolution-payments.com

Accepting Government Purchase Cards and require level 3?

 

Level 2 & 3 Data & Processing Business and Commercial Credit Cards

Friday, October 3rd, 2014

If your company typically accepts commercial and government credit cards, you can  benefit from the reduced interchange levels/incentives for passing level 3 line item detail.

As a matter of fact, you can add a minimum and up to 1.50% of additional revenue on every commercial, fleet, purchasing and government card.

This incentive comes from the card issuing bank and not your processor. Revolution has helped over 1000 merchants more than double their profit margins and can help your company do the same.

Revolution will show you how to add a minimum 0.050% and up to 1.50% of additional revenue before we discuss any type of savings from a rate reduction.

 

If you accept commercial cards and do not pass level 3 or sending level 3 detail but not set up properly your losing up to 85 basis points on all your commercial cards and will prove it with a quick conversation.

 

Questions?  Call 301 790 3450 or email info @revolution-payments.com

Revolution Payment Systems supports level 3 detail through. Quickbooks, Magento, mobile, swiped and has a solution  for authorize.net users.
If your currently selling to the government, revolution will show you had to get a competitive edge over competitors while increasing your profit margins.

Have a GSA schedule and Level 3 is a requirement or mandated?  Revolution are your Level 3 experts.

GSA Point of Sale & Transactional Data Technical Information

Thursday, August 7th, 2014

Point of Sale & Transactional Data Technical Information

The following information is provided for informational purposes only to provide technical background information on the Point of Sale & Transactional Data initiative to vendors.

Transactional Data

  • Level-3 “transactional” Data: is an “electronic invoice” with line-item details. It defines “what” is being purchased, “’how” the sales takes place, “who” is involved in the transaction, and “when” it takes place, it combines that information with the basic payment data and delivers it electronically to the issuer.
  • Level-3 line item detail provides data elements such as a description of the product, quantity, unit-of- measure, price, price discount applied and sales tax information when applicable. It adds transparency and accountability to the taxpayer’s money spending process.
  • These data elements are combined with basic transaction information such as the merchant establishment information and cardholder information.

    Value Proposition for Vendors:

  • Faster funding: Improves profitability by reducing payment time from 30-45 days on an invoice to 2-3 days for electronic payment. Faster payments reduce your cost of floating funds until payments are received
  • Savings – MasterCard and Visa have created special rates to support Purchase Card programs reducing the merchant transaction costs (Interchange) if Level-3 line item detail information is transmitted with the card payment file. By providing Level-3 data, a supplier may reduce their credit card processing fees – often by 30% to 40%.
  • NOTE: The examples below show the “Wholesale” Cost from Visa and MasterCard (Interchange) to the Acquiring Banks. The true cost to the Vendors/Merchants will be higher because they will include additional charges from the Bank and/or Independent Agents servicing their merchant processing accounts. Most independent sales agents work on commissions or “residual income”.
  • SUGGESTION: Vendors should ask their merchant processor for a pricing model which shows the true interchange cost, plus a constant profit margin (sometimes called “Interchange Plus”, or “Pass-Through Plus” by the Processors).
  • Example #1, Visa Interchange Exercise:
    Cost for a $5000 Visa transaction without Level 3 Data: $139 or 2.78% Cost for a $5000 Visa transaction with Level 3 Data: $99 or 1.98%
    Cost for a $3000 Visa transaction without Level 3 Data: $99 or 3.30%
    Cost for a $3000 Visa transaction with Level 3 Data: $75 or 2.50%
  • Example #2, MasterCard Interchange Exercise:
    Cost for a $5000 MasterCard transaction without Level 3 Data: $147.50, or 2.95% Cost for a $5000 MasterCard transaction with Level 3 Data: $102.50, or 2.05%
    Cost for a $3000 MasterCard transaction without Level 3 Data: $88.60, or 2.95% Cost for a $3000 MasterCard transaction with Level 3 Data: 77.58%, or 2.58%

http://gsalevel3mandate.com/

Visa Enhanced Data or Level-3 Detail

Thursday, August 7th, 2014

 

Visa Enhanced Data and Level 3 Detail

If your company sells to the government or other businesses you can benefit from including level-3 line item detail/Enhanced Data  with your government and commercial credit card transactions. If your processor has you set up properly you can reduce the cost of commercial and government transactions by up to 40%

 

Supplying level-3  detail and lower your discount rate by as much as 1.0% – 1.5% when compared to non-Level-3 processing.  Commercial and government transaction are priced different than other

types of credit cards.  Providing level 3 detail lowers cost or interchange, this is important because 100% of interchange goes back to the bank that issued the credit card, not your processor.

In fact, despite the belief most business owners have up to 80% of the fees businesses incur for accepting  credit cards goes back to the bank that issued your clients credit card.  Not credit card processors.

 

 

The only negotiable fee is the processors markup.  Interchange remains the same regardless of the processor.  By providing level 3 detail and working with an experienced level 3 payment processor/consultant

your business can gain additional revenue that is and will otherwise go to the card issuing banks.

 

Questions about Level 3 or currently processing level 3 and want to confirm your getting 100% of the available discounts. Give us a call at 888 790 3450 or email info@revolution-payments.com

 

Revolution Payment Systems can support Level-3 processing through Quickbooks, Magento, and mobile transactions.