If you sell to business or government customers, chances are that they make purchases with corporate or government credit cards. Did you know that you could be saving as much as 0.50% to 2.5% for each of those transactions? So how do you get those savings?
Save By Processing Level 2 & Level 3 Data
You have to collect detailed information for each transaction in order to qualify for the lowest credit card processing rate possible. That information is called level 2 data for order header level information and level 3 data for order line level information. That may sound confusing, but ChargeLogic Payments makes it easy for you to collect level 2 and 3 data to lower your credit card processing fees.
ChargeLogic Payments provides the functionality to collect level 2 and 3 data directly from Microsoft Dynamics NAV and transfer that data to your payment processor. If you sell business-to-business or have government customers, then investing in ChargeLogic Payments’ Purchase Card Processing granule could be an effective way to save you thousands in fees annually.
It’s important to understand that ChargeLogic Payments must be specifically certified with your payment processor to process level 2 or level 3 data. Some processors claim that they have the ability to process this type of data, but if they don’t do it using a method that we feel is secure and PCI compliant, then we will not certify with them for that functionality.
Steps to saving on B2B and Government Credit Card Transactions
- Check the ChargeLogic Payments Compatibility Matrix (PDF) to make sure that we are certified with your payment processor for the data type that you need to process—level 2 or level 3.
- Contact the merchant service representative at your payment processor to determine if you could benefit from processing level 2 or level 3 data.
- Contact your Microsoft Dynamics NAV partner to purchase the “Purchase Card Processing” granule for ChargeLogic Payments.
- Implement the granule to begin reducing fees by up to 0.50% for every level 2 transaction and as much as 2.5% for every level 3 transaction. It’s that easy.
What exactly is level 2 & 3 data?
Level 2 & 3 data are detailed line item or sales header data that, when included with a transaction, provide the card issuers with enhanced reporting capabilities. Payment processors reward merchants who transmit this data with lower transaction fees. Level 2 data includes level 1 information plus details like the sales tax amount, sales tax indicator, customer code, purchase ID, and purchase order number. Level 3 data includes level 1 and 2 information plus details such as the currency code, item unit cost, item quantity, item total, and tracking number, as well as other information. ChargeLogic Payments is designed to pull data out of Dynamics NAV fields to address the data collection requirements for level 2 and 3 transactions.
If you have questions, contact us at email@example.com or visit Visa and Mastercard for more information on level 2 and 3 data. To see a demonstration of ChargeLogic Payments software, attend one of the free webinars listed on our events page.