What You Should Know About Level 3 Processing
Level 3 processing allows your business to process business-to-business and business-to-government sales more effectively and at a much lower cost.
Merchants wanting to increase sales by becoming suppliers to other businesses or government agencies need understand the basics of Level 3 processing and consult with a level 3 merchant processor like Revolution Payment Systems.
In order to accept Level 3 transactions made with government (GSA) or corporate purchasing cards (P-Cards), you must have technology capable of processing level 3 enhanced line item detail.
In order to receive the lower rates that come along with Level 3 processing, a number of required information fields must be captured, including:
• Merchant name • Transaction amount • Date • Tax Amount • Customer Code • Merchant Postal Code • Tax Identification • Item Quantity • Right Amount • Duty Amount • Destination Postal Code • Alternate Tax Amount
Level 3 processing provides several benefits – the detailed transaction information shows up on the card holders bank statement allows them to monitor and record purchases made on the company card at a lower transaction rate than Level 1 or Level 2 purchases.
For merchants, you can expect to save 20-30% on corporate, business, purchasing and Government transactions. You also look more appealing to government buyers in that they are recommended to choose vendors who have the ability to pass level 3 data.
If you have any questions regarding level-3 processing please give us a call or send an email. 888-790-3450 or [email protected]