Interchange Optimization
Interchange Optimization
Companies that frequently accept corporate cards are eligible to reduce their processing fees by up to 20% with no additional effort.
Contact Sales
Qualify for the best processing rates available
What is Interchange?
Interchange is a rate or fee charged by the banks to to cover the costs associated with the risk involved in approving the payment.
Each card brand sets its interchange rates differently, amounting to over 300 different levels of interchange between all the card networks.
Who sets the rates?
Interchange rates are set by credit card companies such as Mastercard, Visa, American Express, and Discover.
The good news is that with the help of the right payment processor, you can lower your interchange fees for eligible transactions by providing specific transaction data to the card networks.
The more data you provide, the better—with savings up to 41% for Level III data!
What is Level 1, Level 2 and Level 3 credit card processing?
There are three levels of credit card transactions. To qualify for each level, the business needs to provide different amounts of data related to the transaction.
We’re able to automatically capture transaction data and leverage it to optimize your interchange rates and maximize your savings.
Level 1
Level 1 is the most basic and common type of credit card transaction. This level only requires standard cardholder information such as the merchant doing-business-as (DBA) name, and the amount and date of the transaction.
Total purchase amount
Date
Merchant name
Account number
Card verification value (CVV)
Expiration date
Zip code
Level 2
Level 2 includes all the data from a Level 1 transaction along with additional details to qualify. This type of transaction requires fields such as the merchant’s zip code, tax amounts, and customer information.
Level I Data
Sales tax amount
Sales tax indicator/ID
Merchant’s ID number
Customer code
Level 3
Level 3 data is the highest tier of credit card processing. To qualify for Level 3 eligible cards, it requires all Level 1 and Level 2 data, plus the additional information below.
Level I & II Data
Ship from ZIP code
Destination ZIP code
Product codes
Freight/shipping amount
Line item description, quantity, unit & extended price
Invoice number
Order number
Tax rate
Discount
Automate your savings when you process qualified transactions
Sensapay automatically captures and optimizes the data needed to qualified for Level 2 & 3 interchange rates.
This means you don’t have to worry about manually entering information or managing complex data requirements and can just focus on growing your business.
