FORWARD-THINKING BUSINESS SOLUTIONS
Infinity Data provides a comprehensive suite of B2B payment processing options, including Level 2 and Level 3 credit card processing. In today’s competitive marketplace, insurance companies, large corporations and government entities are increasingly using Level 3 purchasing cards in order to pay vendors.
We offer a streamlined implementation and ERP integration to get your business up and running with a Level 3 compliant payment processing system, so you can confidently do business with big clients – and reap all the benefits that Level 3 processing has to offer.
REDUCED EXPENSES
Our comprehensive customized solutions are always designed to lower your costs, and Level 3 processing represents a great opportunity to reduce expenses. Substantial savings are realized with heavily discounted level 3 processing interchange rates.
WHAT IS LEVEL 3 CREDIT CARD PROCESSING?
Level 2 and level 3 processing refer to the amount of detail included when a purchasing card (p-card) transaction is processed. Standard business to consumer retail transactions use Level 1 card processing, which means that only the most basic information about the transaction is recorded, such as the date and transaction amount. Level 2 processing captures additional information, such as the merchant’s location and a customer code. Level 3 credit card processing is the highest amount of information currently recorded about a transaction and may include various information ranging from tax and freight amounts to detailed descriptions of the item sold. When completely and accurately provided when using a purchasing card transaction, Level 2 and Level 3 data becomes part of the transaction information allowing for more in depth detail on the purchaser’s statement – leading to lower risk of chargebacks and fraud.
- Level 1 includes standard transaction data, including date, card number, and total order amount.
- Level 2 includes Level 1 data plus enhanced transaction data, such as customer reference number, invoice number, and sales tax amount.
- Level 3 includes Level 2 data plus line item detail.
WHY USE LEVEL 3 CREDIT CARD PROCESSING?
Large businesses and government agencies make use of this extra information to more closely monitor spending. Whether a giant corporation wants to set a predefined spending limit, or a government office wants a detailed paper trail for accountability, Level 3 processing provides the information they need. This is why Level 3 cards are becoming increasingly common. Virtual corporate cards are the trend now, with services such as Ramp allowing a business to generate purpose driven single use cards. When provisioning this information in the transaction, interchange clears at a much lower rate (less risk for the Card Brands) and therefore saves the merchant money on processing costs
HOW TO GET STARTED WITH LEVEL 2 AND LEVEL 3 CARD PROCESSING
Simply call our office and start a discussion with a payments professional at 866 746 8931 or use our contact form to schedule a conversation. We can evaluate your business and suggest the most appropriate way to accept Level 2 and Level 3 purchasing cards, present ways to increase adoption at your business and discuss integration with existing business data for streamlined operations.