LEVEL III PROCESSING
Level III credit card processing represents a lower cost for businesses by passing more detailed information about the transactions. Level III processing is only available to merchants who do most of the business-to-business, business-to-government or government-to-government transactions.
How will merchants save so much money?
The savings on Interchange cost varies from card to card, so depending on card type, savings will range from .50% to 1.10% per transaction. As long as more data is consistently passed through our Virtual Terminal, the lowest rate possible is available on that transaction.
What extra information is required?
The beauty of our Virtual Terminal solution is that it auto-populates the necessary fields with the required information to qualify for the Level III processing rates without the hassle of having to manually add a large amount of data. The information is then passed to the processor, who qualifies it for the lower and cheaper interchange cost. See below for a sample of some of the information that is needed to qualify for Level III processing:
Standard B2B & Commercial Fees
As you can see from the provided charts, these standard interchange fees can cost your business up to 3%!
Level III Processing Fees
When passing Level III data the cost is decreased significantly! Over 1% on some transactions!
The bottom line is this…
The more information you provide for each transaction, the cheaper the transaction will cost for your business. Interchange fees are not going anywhere, but now with Level III processing, you can bring down the cost of interchange simply by using our virtual terminal gateway to pass more data to the processor!