Corporate, Purchasing, GSA and some business cards have the ability to qualify at different interchange levels. level-3 interchange is the most favorable. Purchase cards operate much differently than a standard credit card. Purchase cards offer more capabilities and reporting features. The level 3 data (Line Item Detail)entered at the time of the transaction shows up on the customers bank statement.
Rather than just showing the name of a store and the total amount spent, it shows a description of the items purchased.
Below is an overview on the required information for level 3 processing
Card Knowledge Level-3 Purchase Card Data
Level 1
“Level-1” card data is typically associated with consumer transactions and provides limited purchase data back to the cardholder.
Level 2
“Level-2” data adds more information to benefit the corporate/government/industrial buyer, but the number of fields is limited because of the restricted data capture capabilities provided by most hardware-based Point Of Sales (POS) terminals. Level-2 fields required are Sales Tax and Customer Code. If you have tax exempt customers you can NOT qualify for level-2. Visa and MasterCard no longer allow a zero to be entered in the tax field and has to be between 1%-22% of the sale.
Level 3
“Level-3” (also known as Level III) line item detail, is equivalent to the information found on an itemized invoice. To qualify for Level-3 interchange, certain factors are required: Cost + pricing and payment technology capable of capturing Level-3 Data. It is recommended consulting with a B2B payment professional who has experience setting up merchants to qualify for level 3.
Revolution’s executives bring over 100 years combined industry experience and have made it very easy for merchants to take advantage of level 3 interchange.
Comparative Example*
| Merchant Name |
Level 1 |
Level 2 |
Level 3 |
|---|---|---|---|
| Transaction Amount (Total) |
• |
• |
• |
| Date |
• |
• |
• |
| Tax Amount |
• |
• |
|
| Customer Code (30 Char) |
• |
• |
|
| Merchant Postal Code |
• |
• |
|
| Tax Identification |
• |
• |
|
| Merchant Minority Code |
• |
• |
|
| Merchant State Code |
• |
• |
|
| Ship from Postal Code |
• |
||
| Destination Postal Code |
• |
||
| Invoice Number |
• |
||
| Order Number |
• |
||
| Item Product Code |
• |
||
| Item Commodity Code |
• |
||
| Item Description |
• |
||
| Item Quantity |
• |
||
| Item Unit of Measure |
• |
||
| Item Extended Amount |
• |
||
| Freight Amount |
• |
||
| Duty Amount |
• |
(*)This table is provided only for illustrative purposes and should not be construed as a listing of all the possible fields associated with each data level or that every processor will support all the possible data elements.
If you have any questions regarding level 3 or processing level 3 data and not sure your getting the proper level 3 rates we would love to hear from you. 888 790 3450 or email info@ revolution-payments.com