Utilizing Level 3 Payments

If you're part of a Business to Business (B2B) or Business to Government (B2G) company, you understand the unique challenges and opportunities that come with selling to other businesses or governmental organizations. In these sectors, traditional payment processing methods may not fully meet your needs, which is where Level 3 payment processing comes in.

What is Level 3 Processing?

Level 3 processing is a specialized payment solution designed specifically for B2B and B2G transactions in industries such as manufacturing, distribution, wholesale, and marketing agencies. Unlike standard Level 1 processing, which is sufficient for Business to Consumer (B2C) companies, Level 3 processing provides enhanced data requirements tailored to the complexities of corporate and government purchases.

Why Level 3 Matters

When you accept credit card payments, interchange fees play a significant role in determining your processing costs. Level 3 processing offers lower interchange rates compared to Level 1 and Level 2, resulting in substantial savings for your business.

The key difference lies in the detailed data requirements. While Level 1 processing only collects basic customer information, Level 3 processing captures extensive transaction details such as tax IDs, item descriptions, freight amounts, and more. By providing this comprehensive data, you demonstrate transparency and reduce the perceived risk of fraud, leading to lower interchange rates.

Benefits of Utilizing Level 3 Payments

1. Financial Savings: Level 3 transactions typically cost 0.50% to 1.50% less than standard Level 1 transactions, resulting in significant cost savings for your business. Studies have shown that Level 3 credit card processing can lower transaction costs by up to 40%, enhancing your bottom line.
2. Enhanced Control: With Level 3 processing, you gain greater control over your business transactions. You can set specific parameters, such as restricting purchasing authority within your organization, controlling transaction frequency and size, and tracking expenditures with precision. This level of control empowers you to manage your finances more effectively and mitigate risks.
3. Attractiveness to High-Profile Clients: Level 3 processing demonstrates your commitment to transparency and efficiency, making your business more appealing to high-profile clients, including large corporations and government agencies. By offering Level 3 processing capabilities, you position your company as a trusted partner capable of meeting the unique needs of prestigious clientele.

Level 3 processing offers numerous advantages for B2B and B2G companies seeking to optimize their payment processing, allowing them to put their company in a better position to drive growth and financial health.

Make the Impact Today!

Ready to experience the benefits of Level 3 payments? Contact Make the Impact today to learn how we can help you implement this powerful solution and unlock the full potential of your business transactions. Let's make every transaction count.