With credit card transactions, different levels of data submission are critical for businesses engaged in different types of transactions. There are three levels of interchange data submission available:
Level I | Basic transaction data like card number and transaction amount that is required for standard consumer transactions and provide standard interchange rates. |
Level II | More detailed transaction data, like a sales tax, is required for B2B transactions and provides lower interchange rates. |
Level III | Comprehensive transaction information like line item details and shipping, is required for high-value (large ticket) B2B transactions and provides the lowest interchange rates. |
Major card brands Visa & MasterCard each have specific requirements that merchants must adhere to to offer them the best interchange rates. American Express and Discover do not accept direct Level II or Level III data submissions for lower interchange rates at this time.
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