Revolution Payments, the leading authority when it comes to processing commercial/government transactions, reveals a new program that helps businesses reduce the cost of accepting large ticket credit card transactions.
Merchants who have business-2-business (B2B) and business-2-government (B2G) customers most like see large individual credit card transactions.
Revolution Payments level 3 payment solution automatically populates and attaches level 3 detail, without requiring someone to manually entering the 7-13 additional data fields, typically required to receive level 3 interchange rates.
With level 3 detail being automatically attached to larger transactions, large ticket transactions within the varies thresholds will clear at Large Ticket Credit Card Processing Interchange Rates.
This saves a business up to 2% and more when processing large transactions.
Interchange rates for large tickets vary depending on the size of the transaction and type of card.
- Visa Interchange rates will vary from .40% +$58.50 to 1.45% + $35
- MasterCard varies from 1.15% + $80 to 1.25% + $40
- GSA 1.25% + $39 for transactions above $5984.62
Level 3 Processing along with Large Ticket Interchange, a business can now recoup a large chunk of interchange that will otherwise go back to the card issuing bank. This is vital. 80% and more of the fees a business pays to accept credit cards, goes back to the card issuing bank. Large ticket commercial, purchase and government cards accepted without level 3 detail, qualify at different interchange codes.
Accepting these transactions without level 3 detail and the large ticket program, they qualify between 2.65%-2.95%. This all happens before a processor adds their fee.
The only way a business can take advantage of the large ticket credit card processing rates, is if level 3 detail is passed. We automate and simplify this entire process.
Merchants interested in learning more about Revolution payments should contact Sean Jones at Sean(at)revolution-payments(dot)com.
Leave a Reply