By providing Level-3 data, a business may reduce their credit card processing fees – often by 30% to 40%.
ASHBURN, Va. (PRWEB) April 05, 2019
Revolution Payments, the leading authority when it comes to Level 3 processing reveals B2B payment technology to help businesses reduce the interchange cost of accepting commercial credit cards by up to 1%-1.5%.
This automated level 3 processing solution eases the friction when it comes to the data entry normally required to qualify for level 3 interchange rates.
The Revolution Payments level 3 processing solution fixes this problem and does it without a business having to do any actual work, or go through any hassles, this proprietary system (gateway) can automatically detect, whether it’s a level 3 eligible transaction. And when it is, it can immediately lower the “interchange” costs by up to 40% before a processor applies their rate to the transaction.
Many businesses have been conditioned to focus only on rate when choosing a credit card processor. Rate is important, however up to 90% of the credit card processing fees business pays to accept cards goes right back to the card issuing bank. This is referred to as interchange, interchange is the same regardless of the processor. Processors each no revenue whatsoever from interchange.
Both Visa and MasterCard apply higher interchange rates for transactions that are accepted without level 3 payment detail. These rates vary from 80 basis points to 1.5% and are applied to interchange before a processor adds there processing fee.
Merchants can now recoup a large chunk of this interchange revenue that will otherwise go back to the card issuers and do it without having to deal with any of the headaches of entering all the additional requirements. Revolutions’ solution will update transactions across all payment channels, whether swiped, keyed, processed via a mobile device or through a website. QuickBooks, Sage and Great Plains transactions are also supported.
Merchants interested in learning more about Revolution payments should contact Sean Jones at Sean(at)revolution-payments(dot)com.