Level 3 Transaction Data – Revolution Payments

Level 3 Transaction Data – Revolution Payments

Level 1, Level 2 and Level 3 Transaction Data, and why its important if you accept business-2-business (B2B) or business-2-government (B2G) credit cards.

To understand why you should be including level 3 payment detail on your b2b and b2g transactions, you only need to look at the different interchange rates for these transactions also, something unique to commercial cards, is they qualify 1 of 3 different interchange rates before your processor adds their fee.

This different rates are based on additional transaction data, you enter with the transaction.  I cover this in a previous blog, but level 3 processing was initially created to help the government management spending.  Visa and MasterCard created special interchange rates to encourage vendors to enter level 3 transaction data.  These lower fees, could in some cases lower interchange by 1%-1.5%.  That being said, non government commercial cards are eligible for level 3 interchange rates.

Level 1

Very basic payment detail

Level 2

Level 1 information with tax and customer code (terminals can support level 2 interchange rates)

Level 3

Detailed level 3 transaction detail aka line item detail. (terminals do not support level 3 data) for example, Level 3 transaction data is information you would generally find on an invoice which is included with the payment file.  The chart below shows the varies processing levels.  Only transactions including level 3 transaction data are eligible for level 3 interchange rates.

Required Fields

Below are the data-fields required with your transactions in order to qualify for level 3 & level 3 processing interchange rates.

Have questions about level 3 processing or the savings including Level 3 detail with your commercial cards would impact your bottom line?  Give us a call 888 790 3450

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