Merchants Can Reduce Costs with Level III Processing
This level of detail can significantly reduce costs
You have probably been told that business credit cards are expensive to process but that isn’t exactly true. There are steps that merchants can take to get lower pricing. If your company accepts business credit cards, you can qualify for better rates. Business to business (B2B) transactions don’t have to cost more when utilizing level III data collection.
If you are a merchant that accepts business credit cards, then you know that the payments you accept are processed through an intricate and often complicated network of providers. Several factors affect who touches a payment. However, all payments are required to pass through the card networks such as Visa, Mastercard, American Express and Discover.
When a payment passes through the card networks, a fee known as interchange is collected. Interchange is set by the networks, and that is why many merchants believe there is no way to reduce this specific fee. But that is not the case.
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