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Avail Benefits with Different Levels of Payment Processing

When an online payment is made through cards, payment processors such as PaymentAsia provide some information about the cardholder. Working with payment processing partners such as PaymentAsia will enable you to access automated Level 2 processing. Visit @ https://bit.ly/3w364wL

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Avail Benefits with Different Levels of Payment Processing

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  1. Avail Benefits with Different Levels of Payment Processing www.paymentasia.com

  2. There are 3 levels of processing of card data. If you are a B2B merchant, Level 2 and 3 processing could be very beneficial for you. Therefore, what are these 3 levels of processing? When an online payment is made through cards, payment processors such as PaymentAsia provide some information about the cardholder. All transactions do not provide the same amount of data. Moreover, irrespective of the size of your business, you have to deal with interchange rates or the fee for card usage. This interchange rate was introduced to cover the risk of approving transactions, fraud, handling costs, and bad debt costs.

  3. Features of Level 1 Processing Merchants can qualify for B2B interchange rates when they provide Level 2 and 3 information. This enables them to save on credit card processing fees which can be quite a huge amount depending on the volume of business. In Level 1 processing, for example, the merchant’s DBA name, transaction amount, and transaction date are revealed. DBA name is the registered name of your business. Level 1 information is not sufficient to track the spending habits of the business. Level 1 data is standard for B2C businesses and reveals basic information such as the card number and CVV2 code. Level 1 processing is normally done by restaurants and online retailers.

  4. Upgrade Your Technology Level 2 processing captures additional data such as tax ID, customer ID, tax amount, and merchant postal code. This is of benefit to a B2B business as they can get a reduction in their interchange rates on commercial cards. Once you qualify for Level 2, you have to ensure that the technology you use is able to capture and send the L2 data to the credit card processing company. Working with payment processing partners such as PaymentAsia will enable you to access automated Level 2 processing. The Level 2 enabled payment platforms will automatically fill in the data fields that are required to be compliant with Level 2 requirements.

  5. Benefits For the Merchant and The Customer Level 3 processing provides all the data captured in Level 1 and 2 processing along with additional information such as invoice codes, line-item commodity codes, and much more. At Level 3 processing, you get greatly reduced interchange fees. There is a big improvement in reporting capabilities, making it possible to analyze your spending, so you can have control of your spending habits. The greater the volume of purchases, the greater the saving. This is beneficial to you too, as you get loyal customers who are willing to buy in bulk to avail of discounts and other benefits.

  6. Contact Us • 85231058028 , 85227542822 • services@paymentasia.com • https://www.paymentasia.com/en/ • https://www.facebook.com/pzgp.paymentasia • https://twitter.com/HK_PaymentAsia • https://www.youtube.com/channel/UCDd79bnKT0I4y0aiCKNQz6g

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