The government is making a shift in the way they are accepting credit cards and something you need should prepare for. When the GSA SmartPay program was initiated in 1989 level-3 data was not a requirement. That is starting to change. GSA has added Level-3 processing as a requirement for some of the contracts recently awarded, especially the Strategic Sourcing BPAs on GSA Schedule. The government is also encouraging buyers to look for vendors who can provide level 3 data.
Processing level 3 line item detail allows any business to reduce their transaction cost while looking more attractive to government buyers.
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Congress is moving toward passage of the Government Charge Card Abuse Prevention Act, which requires federal agencies to implement safeguards and controls on government credit cards. Level 3 detail will reduce fraud by insuring only authorized purchases are occurring.
To learn more about level 3 processing or take advantage of Revolutions No Obligation purchase card audit, give us a call at 888 790 3450 or email info@ revolution-payments.com
Revolution Payments also supports Level 3 detail in: Quickbooks, Magento and has a solution for Authorize.net users.
PS. If you process commercial cards from your clients, GSA and non GSA and not processing level 3 data, your leaving a big chunk of revenue on behind. This is revenue you Can Not get from your processor simply lowering your rate. Call for details