Level 3 Credit Card Processing
Consumers, businesses, and government all have enticing reasons for using their credit cards, such as earning credit card rewards, convenience, and other incentives. And because fewer places have been accepting cash since March 2020, more people and employees are using cards to make transactions safely. But with each transaction, you as the vendor incur enormous credit card processing fees. As much as you appreciate your customers, you don’t want a bite of your profits taken out in interchange rates. It may seem counterintuitive at first, but what can help your business is to collect more information from customers on behalf of the creditors, such as their billing ZIP Code and the card verification value (CVV), which is the three-digit security number on the back of the card. Because requesting this information makes transactions more secure, you can save a lot of money. For example, your business can go from paying an interchange rate of 2.3% and $.10 per transaction to an interchange rate of 1.95% and $.10 per transaction. Our customers sometimes see as much as a 40% reduction in interchange fees per transaction.
Consumers, businesses, and government all have enticing reasons for using their credit cards, such as earning credit card rewards, convenience, and other incentives. And because fewer places have been accepting cash since March 2020, more people and employees are using cards to make transactions safely. But with each transaction, you as the vendor incur enormous credit card processing fees. As much as you appreciate your customers, you don’t want a bite of your profits taken out in interchange rates. It may seem counterintuitive at first, but what can help your business is to collect more information from customers on behalf of the creditors, such as their billing ZIP Code and the card verification value (CVV), which is the three-digit security number on the back of the card. Because requesting this information makes transactions more secure, you can save a lot of money. For example, your business can go from paying an interchange rate of 2.3% and $.10 per transaction to an interchange rate of 1.95% and $.10 per transaction. Our customers sometimes see as much as a 40% reduction in interchange fees per transaction.
