Level 1 Processing (Level 1 Card Data)
The majority of businesses will be processing under Level 1. Business to consumer (B2C) merchants such as retail shops, e-tailers, restaurants - essentially, any businesses that take a majority consumer credit card payments. Level 1 processing only requires that the data include merchant name, transaction code and transaction date.
Level 2 Processing (Level 2 Card Data)
Business to business (B2B) merchants will likely fall under the Level 2 category. These merchants will be accepting business, corporate and purchasing cards. At this level, the amount of information needed is greater than Level 1 processing. This includes the standard information required for Level 1 processing as well as data such as merchant zip code, customer code, sales tax, etc.
Level 3 Processing (Level 3 Card Data)
Like Level 2 processing, merchants that achieve Level 3 processing are going to be accepting a large amount of commercial cards and/or government cards from businesses and government agencies (B2G). The difference between the two is again, the amount of data/information requirements, with Level 3 processing demanding the most additional data points. Under Level 3 processing, merchants get the best rate by providing all data points of Level 1 & 2 processing as well as the below Level 3 processing data points:
Level 3 (including Level 2) Level 3 interchange rates are up to a full 1.00% lower than their standard
- Ship-From Zip Code
- Destination Zip Code
- Invoice Number
- Order Number
- Item Product Code
- Item Commodity Code
- Item Description
- Item Quantity
- Item Unit of Measure
- Item Extended Amount
- Freight Amount
- Duty Amount
Level 2 and Level 3 Rates
You can find yourself saving a large amount off interchange rates when you achieve Level 2 & Level 3. REDDEX and its knowledgeable team members can make this process easy for your business. Email us at email@example.com for more information.