Business to business processing requires special attention in order to qualify for the lowest interchange rates available. Our representatives have been trained on the specific requirements for our B2B merchants to obtain level 3 interchange.
Commercial and Government Processing
Interchange rates for commercial and government transactions are broken down into different levels based on additional information that is passed along with the payment transaction.
"Level-1" card data is typically associated with consumers using their personal credit card with basic information required to accept a payment. "Level-2" data requires additional information such as customer codes and tax amounts. Merchants entering level 2 data receive a slightly lower interchange rate for commercial, business, purchasing and fleet cards.
"Level-3" (also known as Level III) line item detail, which is transaction detail you would generally find on an itemized invoice that is passed along with the payment transaction. Visa and MasterCard have created special interchange rates that significantly reduce a merchant's transaction cost when Level III line-item detail is provided.
Level-1: Merchant name transaction amount and transaction date. Add Level-2: Customer code and total tax amount.
Add Level-3: Ship from and destination postal codes, invoice #, order #, freight amount, line item detail of purchase.