Credit Card Level 2 & 3 Data Processing
Optimize your B2B transactions with advanced data processing
Maximize Savings and Insights with Level 2 & 3 Data Processing
Every credit card transaction is considered a level 1, level 2, or level 3 transaction. The level increases depending on how much card data is passed. The higher the level, the more data needed to complete the transactions. Level 2 & 3 data processing is essential for businesses engaged in B2B credit card transactions. Our advanced solutions offer numerous benefits:
- Qualify for lower interchange rates and reduce processing fees
- Automate the capture and submission of detailed transaction data
- Enhance reconciliation and expense management processes
- Gain deeper insights into business spending patterns
- Improve compliance with tax and auditing requirements
Get Started with Level 2 & 3 Payment Processing
Set up your merchant account and payment processing in Four Easy Steps
Complete an Online Application
Begin with our straightforward online application.
Submit Necessary Documentation
Provide essential documents to support your merchant account application.
Work with Our Underwriting Team
Our experts guide you through the underwriting process.
Start Processing Payments
Begin accepting Level 2 and 3 transactions seamlessly between bank accounts and focus on growing your revenue.
Why Choose PayKings for Level 2 & 3 Data Processing?
In the world of B2B transactions, Level 2 & 3 data processing is crucial for optimizing costs and improving operational efficiency. At PayKings, we offer advanced solutions that streamline the capture and processing of this valuable transaction data.
On top of our Level 2 data processing, we also offer credit card processing solutions with low transaction costs. Get set up with both data processing and merchant account solutions. We'll provide a merchant account, payment gateway, and credit card processing solutions.
How Does Level 2 & 3 Data Processing Benefit Your Business?
Our Level 2 & 3 data processing services help you qualify for lower interchange rates, reduce processing fees, and gain deeper insights into your business transactions. By automating the collection and submission of detailed transaction data, we enable you to maximize savings, improve reconciliation processes, and enhance overall financial management.
Level 2 & 3 Data Processing Services
Enhanced Data Capture
- Automated Level 2 & 3 data collection
- Customizable data fields
- Integration with existing systems
- Real-time data validation
- Support for multiple data formats
- Secure data transmission
Cost Reduction
- Lower interchange rates
- Reduced processing fees
- Optimized B2B transactions
- Improved cash flow management
- Enhanced reconciliation process
- Streamlined expense tracking
Reporting & Analytics
- Detailed transaction reports
- Customizable dashboards
- Spend analysis tools
- Compliance monitoring
- Trend identification
- Performance benchmarking
What is Credit Card Level 2 Data?
Level 1 processing requirements are simple and include merchant name, card number, billing zip code, purchase amount, and purchase date. However, fees for Level 1 data processing are higher. Level 2 data typically means lower processing and interchange rates. This level of data is usually required by B2B companies. Level 2 data requirements vary between the credit card companies, but Level 2 data often includes:
- Customer code
- Zip code
- Merchant zip code
- Billing address
- Tax amount
- Merchant tax identification
Level 2 data processing is key for B2B companies, especially those processing high transaction volumes. It makes them more secure and allows them small discounts.
What is Level 3 Additional Reporting Data?
Level 3 data requirements include level 2 requirements along with additional data and more detailed information. Like Level 2 data, Level 3 requirements often mean lower interchange costs. Again, this may vary depending on your credit card company. The vast majority of level 3 data processing is typically for large companies and corporate or government cards. Most card networks will require:
- Product description
- Destination zip code
- Invoice and/or order number
- Item ID and description
- Order number
- Item quantity and description
- Unit of measure
If you are a B2B company, find a payment processing company that provides Level 2 and 3 data requirements so your company can obtain lower interchange fees.
