Level 3 Payment Processing Explained
Level 3 Payment Processing is a more sophisticated way of accepting and processing government & commercial credit card transactions that involves providing Line item detail with your transactions——this in turn, tells the issuing bank what is being purchased, who is involved in the transaction, how the sale is taking place, and when.
To encourage merchants to provide this level of data, Visa and MasterCard created special interchange rates to support level 3 credit card processing. These special interchange rates can easily lower your cost of accepting Business-2-Business (B2B) & Business-2-Government (B2G) transactions by 30%-40%.
If you have questions about level 3 processing or curious to learn whether or not its a good fit for your business give us a call at 888-790-3450 or take advantage of our No obligation level 3 processing rate quote.