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Credit card processing is set up to fit into 3 levels: Level 1, Level 2 and Level 3. Each level is set up to require different amounts of information to process a payment, Level 1 having the lowest requirements and the highest costs. On average, B2B/B2G merchants can save over 1% in interchange costs by processing with Level 2 and 3 data.
Level 1 data is set up for standard retailers that swipe or key in a zip code (B2C transactions)
Level 2 data is set up to process corporate cards, by entering a sales tax and customer code/invoice number (B2C + B2B transactions)
Level 3 data is set up to process corporate cards and government cards by including line item details (BCB + B2G transactions)
What is level 2 processing?
Level 2 data is used to process business card, corporate card and P-card transactions. In order to process Level 2 data, information used in Level 1 B2C sales is entered along with tax information. Although additional data fields are required they are typically easier to input when compared to Level 3 data.
What is level 3 processing?
Level 3 Processing is used in B2B and B2G transactions to help large corporations monitor spending by capturing additional line-item details. Utilizing the extra data offers a significant amount of savings on interchange rates for transactions.
For data requirements on Level 2 and Level 3 processing, click here. For a complimentary statement analysis or more information on Level 2 and Level 3 payment processing, call us at 866-519-1018 or visit our Industry Processing page