Level I, Level II, and Level III Credit Card Processing play a crucial role in defining interchange categories and qualifications for B2B and B2G credit card transactions. Implementing Level 3 credit card processing can significantly reduce the cost of accepting these transactions by up to 40% before the processor adds their fee.
- Level 1
- Level 2
- Level 3
- Large Ticket
Level I Credit Card Processing
- Basic transactions between businesses and consumers.
- Includes minimal payment details: Merchant Name, Transaction Amount, Transaction Date.
Level II Credit Card Processing
- Similar to Level I but with additional details.
- Can reduce interchange costs by approximately 0.50% on certain card types.
- Tax exempt transactions are not eligible for Level II savings.
- Additional details include Tax Amount, Customer Code or PO number, Merchant Zip Code, and Transaction Date.
Level III Credit Card Processing
- Requires information from Level I and Level II.
- Additional fields include Ship From and Destination Postal Code, Invoice Number, Order Number, Freight Amount, Line Item Detail of Purchase.
- Qualifying for Level III rates requires sophisticated technology capable of capturing detailed information found on invoices.
Large Ticket Processing
- Eligible for transactions with Level 3 detail.
- Visa Commercial Product Large Ticket and MasterCard requirements outlined.
- Not eligible for certain categories like Travel and Entertainment, Restaurants, High-Risk Direct Marketing.
- Authorizations must be settled within 2 days for Level III interchange qualification.
Revolution Payments Optimization Service
- Provides a cost-plus merchant account and a virtual terminal capable of capturing the required line item detail.
- Ensures every transaction qualifies at the lowest possible interchange rates.
For questions about Level I, Level II, Level III Credit Card Processing, or for a no-obligation Level 3 analysis and audit, contact us at 888-790-3450 or email [email protected]. With over 15 years of expertise in Level III processing, we are dedicated to providing savings to our clients.