Level III PRocessing
Level III processing gives merchants a lower interchange cost when the merchant provides more information pertaining to each transaction. Level III processing is only available to merchants who do a majority of business-to-business transactions, or government-to-government transactions.
How will I save so much money?
The savings on Interchange cost varies from card to card, so depending on card type, savings will range from .50% to 1.10% per transaction. As long as you consistently pass more data through our Virtual Terminal, you know you are getting the lowest rate possible on that transaction.
What extra information do I have to provide?
The beauty of our Virtual Terminal solution is that it auto-populates the necessary fields with the required information to qualify YOU for the Level III processing rates without the hassle of you having to manually add a large amount of data. The information is then passed to the processor, who qualifies it for the cheaper interchange cost.
Level III Processing Fees
When passing Level III data the cost is decreased significantly! Over 1% on some transactions!
The bottom line is this...
The more information you provide for each transaction, the cheaper the transaction will cost for your business. Interchange fees are not going
anywhere, but now with Level III processing, you can bring down the cost of interchange simply by using our virtual terminal gateway to pass more data to the processor!