Setting up a merchant account to accept commercial, business & government cards is different than a standard retail merchant account.
Statics show us that at least 3 out of 5 GSA businesses have not been set up to accept commercial cards correctly.
Most have been set up to accept standard consumer credit cards vs commercial and purchase cards.
This is unknowingly cutting into profit margins, on average by 1%-1.5%
The image below is how your statement looks when properly set up to accept Purchase cards
All keyed purchase cards and clearing at Level-3 Interchange and 1.85%
It’s regrettable that many businesses are unaware of the advantages that correct processing solutions can present.
To support acceptance of these cards, MC & Visa have reduced interchange rates associated with these cards if Level-2 & Level-3 data is included in the transaction
Revolution Payments developed the technology to help contractors meet these requirements resulting in qualifying for MasterCard and Visa’s lower rates.
These reduced rates are passed on to the merchant dramatically lowering their fees and saving in many cases as much as 50% on our clients processing fees.
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It has been our experience that the vast majority of businesses (75 to 80%) that engage in B2B and B2G processing are not aware of or properly set-up to take advantage of MasterCard and Visa’s special rates on the Corporate and Purchase Card programs.
Are you? If so your your rates for these transactions will vary from 1.75%-1.89% and look very similar to the statement snippet above.