Do you accept business-to-business transactions including corporate, purchase and government cards? If yes, then you owe it to your company’s bottom line to ensure you are processing these business cards at the best interchange levels. Level II and Level III (also known as Data Rate 2 and Data Rate 3) are interchange categories designed by Visa® and MasterCard® to give qualified businesses a break on their interchange fees – sometimes as much as 90 basis points lower than non-Level II/III standard interchange rates.
If you don’t see “Data Rate 2” or “Data Rate 3” on your current merchant statement, the chances are very good that you are missing out on an opportunity to process for less.
Purchase orders and paper invoicing are quickly becoming a thing of the past, as companies of all sizes are now using corporate p-cards. The processing of Level III p-card data offers a versatile payment option that can streamline your cash flow, while accommodating your clients’ procurement programs. By accepting p-cards, you make it easy for companies to do business with you – either at the point of sale or on the web.
Let Chase Paymentech perform a detailed review of your statements and show you how to start processing Level II and III data in order to be eligible for lower interchange rates. If you switch tous , we'll even set you up with our proprietary Orbital® Virtual Terminal at no cost! (Level II/III transactions typically require the use of specialized credit card machine devices to qualify – our gateway is ready to process Level II/III data and generally requires no updates for your system).
Chase Paymentech makes it easy to process Level II and III data for purchasing card transactions with our proprietary products:
Level III data for p-cards includes Level I and II data, plus full invoice detail between seller and buyer, like:
With p-card acceptance, you can transform your accounts receivable processes that previously required days of administrative time, into fast, electronic transactions that are settled within days. No more purchase orders. No more invoices. No more statements. No more past-due follow-up.
Contact us to learn more about accepting p-cards.
* Funding is subject to merchant credit approval and all funds are subject to fraud monitoring.
Merchants are required to complete an application and agree to terms and conditions at the time of enrollment. All merchants are subject to credit approval. Merchant services are provided by Paymentech, LLC (“Chase Paymentech”), a subsidiary of JPMorgan Chase Bank, N.A.