When it comes to business-to-business (B2B) transactions, accepting credit card payments can come with some steep processing fees. However, if you're not utilizing Level 2 and Level 3 data when processing transactions, you might be missing out on significant savings opportunities. For businesses that frequently handle corporate cards or government-issued purchasing cards, these levels of data can help reduce your processing fees by lowering the interchange rates.
The challenge? Entering Level 2 and Level 3 data manually can be time-consuming and complex. But with Merchant Processing Pros, you can automate this process, making it easier to capture enhanced data and save money—without the extra work.
Before diving into how Merchant Processing Pros can automate this process, let’s break down what Level 2 and Level 3 data are and why they matter.
Level 2 Data: Typically required for corporate card transactions, Level 2 data includes information like the transaction amount, sales tax, and merchant zip code. This data helps reduce the risk of fraud in larger transactions and qualifies the transaction for lower interchange rates.
Level 3 Data: Even more detailed, Level 3 data is typically required for large government or corporate purchases. It includes specific information about the line items purchased, such as product descriptions, quantities, unit prices, and tax information. Transactions with Level 3 data qualify for the lowest possible interchange rates, potentially saving your business a significant amount on processing fees.
By providing this additional data, you can qualify for lower interchange rates and significantly reduce your processing costs on qualifying transactions. However, entering Level 2 and Level 3 data manually can be overwhelming, especially when you're managing dozens or even hundreds of transactions each day.
For many businesses, manually entering Level 2 and Level 3 data can quickly become a bottleneck. Not only is it time-consuming, but it also opens the door to human error, which could disqualify the transaction from the lower interchange rates you're hoping to achieve.
Automating the process with Merchant Processing Pros eliminates this headache. Here's how we make it easy:
Merchant Processing Pros automatically captures the required Level 2 and Level 3 data when processing qualifying B2B transactions. This means that you no longer need to worry about entering data manually or missing out on the interchange savings that come from providing this enhanced data. With our solution, you can be sure that the necessary data fields are being captured correctly every time.
By automatically capturing and submitting Level 2 and Level 3 data, Merchant Processing Pros ensures that your transactions qualify for the lowest possible interchange rates for B2B and corporate payments. This translates directly into savings on every qualifying transaction, putting more money back into your business.
Manually entering detailed transaction data for Level 2 and Level 3 processing is a labor-intensive process that can bog down your operations. Merchant Processing Pros takes this workload off your hands by automating the data submission, freeing up your staff to focus on more important tasks. This also reduces the potential for costly human errors.
Since Merchant Processing Pros handles the data submission automatically, you can be confident that your transactions are processed with 100% accuracy. This improved accuracy ensures that every qualifying transaction gets the maximum savings from the lowest interchange rate tiers.
Merchant Processing Pros is designed with small and medium-sized businesses in mind, offering a simple yet powerful interface that makes B2B payments seamless. Here’s how it works:
Swipe or Key In: For any transaction where a corporate or purchasing card is used, simply swipe the card or key in the transaction details.
Automated Data Entry: Merchant Processing Pros automatically detects the card type and prompts for any additional Level 2 or Level 3 data required for the transaction. This data is submitted seamlessly behind the scenes, ensuring compliance with Visa, Mastercard, and other card network requirements.
Instant Savings: By providing the enhanced data automatically, Merchant Processing Pros ensures that your transactions qualify for the lowest possible interchange rates, giving you immediate savings on B2B and government card payments.
Real-Time Reporting: With real-time reporting, you can easily track your transactions and ensure that your business is getting the best possible rates for every transaction. Our platform provides insights into the volume of transactions that qualify for Level 2 and Level 3 processing, so you can see how much you’re saving.
While many payment platforms offer Level 2 and Level 3 data capabilities, not all of them provide automation, especially in a user-friendly interface like Merchant Processing Pros. Here are a few reasons why our solution stands out:
Ease of Use: Merchant Processing Pros is designed to be simple and intuitive, even for businesses that aren’t payment experts. With a few clicks, you can process payments and capture the enhanced data you need for significant savings.
Customizable Solutions: Whether you’re processing large government contracts or handling corporate procurement, Merchant Processing Pros can be customized to meet the needs of your business and ensure compliance with Level 2 and Level 3 data requirements.
Support and Training: Merchant Processing Pros offers full support and training, ensuring that your staff is fully equipped to use the system effectively. If any issues arise, you have a team of experts to guide you.
Increased Savings: Automating Level 2 and Level 3 data with Merchant Processing Pros means you don’t have to leave money on the table. Every qualifying transaction that gets the lower interchange rate means more profit for your business
For B2B businesses, accepting corporate and government purchasing cards is a great way to expand your customer base. But if you’re not utilizing Level 2 and Level 3 data to lower your processing costs, you’re missing out on potential savings. Manually entering that data, though, is inefficient and prone to error.
That’s where Merchant Processing Pros comes in. By automating the capture of Level 2 and Level 3 data, we help you take full advantage of lower interchange rates—without the extra work. It’s a seamless solution that makes B2B payments more cost-effective and easy to manage.
Ready to start saving on your B2B transactions? Contact us at Merchant Processing Pros to learn how we can help your business automate Level 2 and Level 3 data and start maximizing your payment processing savings today.