Level 2 & 3 Credit Card Processing

As experts in level 2 & 3 credit card processing, we’ll educate you on what data is needed to get the lowest interchange rates.

Level 2 & 3 Credit Card Processing

Level 2 data

Level 2 credit card processing is similar to Level 3 processing, but with less requirements. Just like with Level 3 data, merchants are required to input additional data fields – but typically, the required fields are easier to enter and there are fewer fields to deal with. Level 2 processing still provides a rate reduction, but not quite as much as level 3 processing.

Processing Level 2 data requires either a standalone credit card terminal, or a gateway like Merchantthat’s equipped to handle Level 2 data. Common interchange reductions are around 0.50% lower than typical sales!. So if you’re a B2B merchant processing large orders, it’s definitely worth your while to input Level 2 data. In order to qualify for Level 2 data, you’ll be required to input the below data fields with each transaction. Don’t worry, MX Merchant automatically passes this information through with each sale to make things simple:

Level 3 Data

Level 3 Processing is used in B2B and B2G transactions to help large corporations monitor and track their spending by collecting a set of additional line-item details. Utilizing that extra data, this top tier of processing offers significantly lower interchange rates for Visa and Mastercard transactions.

Level 3 processing is utilized in B2B and B2G transactions to help them secure lower interchange rates and monitor their spending. It involves the input of additional data through extra line-item details that further outline transactions for both the business and credit card companies.

This additional data is reported back to Visa and Mastercard, allowing businesses to keep track of, receive applicable sales tax detail, and set restrictions on purchases made with a company credit card. This allows any business to better stay on top of their spending, ensuring that their funds are best utilized to further their operations.