If your business accepts business cards there is a good chance your transactions may not be qualifying at the lowest interchange rates.
Did you know that the difference from the best possible cost plus rate and the same transaction qualifying at level 3 (level 3 processing)is 85 basis points? Most merchants dont know this as well as payment professionals and why its highly recommended working with an experienced B2B professional or someone with experience when it comes up setting you up properly to process level 3 payments.
Setting up a merchant account to accept and processing purchasing cards, GSA and business cards is much different than a retail merchant account. Rates alone are generally the motivating factor when it comes to retail merchant accounts. This is not the case for a B2B merchant account. Aside from rate, business cards have the ability to be reassigned to different rate levels and cards have certain rules that apply that if not met will result in seeing Non qualified and Standard on your statement.
If you would like to learn more about the benefits of working with a B2B payment professional or the potential savings your business could experience please call our office today for a no obligation consultative analysis