What is level 2 and level 3 data_ let dharma educate you. worldwide mastercard

Level 3 data

Most merchants will never have the opportunity to accept level 3 cards, but if you’re processing in a B2B-heavy industry or if you accept a lot of government cards, then having level 3 data acceptance may help reduce your interchange costs significantly. ( see a list of qualifying interchange rates, here). Often times, level 3 interchange rates are up to a full 1.00% lower than their standard counterparts! But, in order to gain access to level 3 data, you’ll be required to input a fair amount of information on each transaction. In addition, only certain gateways can accommodate for level 3 data. Dharma offers level 3 support through the MX merchant interface using the B2B app. Pricing is only $20/month. MX merchant will automatically populate all fields required for level 2, plus the following:

worldwide mastercard

• ship-from zip code

• destination zip code

• invoice number

• order number

• item product code

• item commodity code

• item description

• item quantity

• item unit of measure

• item extended amount

• freight amount

• duty amount

Level 2 data

Level 2 credit card processing is similar to level 3 processing, but with less requirements. Just like with level 3 data, merchants are required to input additional data fields – but typically, the required fields are easier to enter and there are fewer fields to deal with. Level 2 processing still provides a rate reduction, but not quite as much as level 3 processing.

Processing level 2 data requires either a standalone credit card terminal, or a gateway like MX merchantthat’s equipped to handle level 2 data. Common interchange reductions are around 0.50% lower than typical sales! ( see a list of qualifying interchange rates, here).Worldwide mastercard so if you’re a B2B merchant processing large orders, it’s definitely worth your while to input level 2 data. In order to qualify for level 2 data, you’ll be required to input the below data fields with each transaction. Don’t worry, MX merchant automatically passes this information through with each sale to make things simple:

• merchant name

• transaction amount

• tax amount (between 0.1% and 31% of the total amount)

• transaction date

• customer code or PO number

• merchant zip code

Level 3 data

Most merchants will never have the opportunity to accept level 3 cards, but if you’re processing in a B2B-heavy industry or if you accept a lot of government cards, then having level 3 data acceptance may help reduce your interchange costs significantly. ( see a list of qualifying interchange rates, here).Worldwide mastercard often times, level 3 interchange rates are up to a full 1.00% lower than their standard counterparts! But, in order to gain access to level 3 data, you’ll be required to input a fair amount of information on each transaction. In addition, only certain gateways can accommodate for level 3 data. Dharma offers level 3 support through the MX merchant interface using the B2B app. Pricing is only $20/month. MX merchant will automatically populate all fields required for level 2, plus the following:

• ship-from zip code

• destination zip code

• invoice number

• order number

• item product code

• item commodity code

• item description

• item quantity

• item unit of measure

• item extended amount

• freight amount

• duty amount

Level 2 data

Level 2 credit card processing is similar to level 3 processing, but with less requirements. Just like with level 3 data, merchants are required to input additional data fields – but typically, the required fields are easier to enter and there are fewer fields to deal with.Worldwide mastercard level 2 processing still provides a rate reduction, but not quite as much as level 3 processing.

Processing level 2 data requires either a standalone credit card terminal, or a gateway like MX merchantthat’s equipped to handle level 2 data. Common interchange reductions are around 0.50% lower than typical sales! ( see a list of qualifying interchange rates, here). So if you’re a B2B merchant processing large orders, it’s definitely worth your while to input level 2 data. In order to qualify for level 2 data, you’ll be required to input the below data fields with each transaction. Don’t worry, MX merchant automatically passes this information through with each sale to make things simple:

• merchant name

• transaction amount

• tax amount (between 0.1% and 31% of the total amount)

worldwide mastercard

• transaction date

• customer code or PO number

• merchant zip code