-CPS Card Not Present
-Electronic Commerce Basic
-Electronic Commerce Preferred Retail
-Retail Key Entry
-Debit (Check Card)
Visa and MasterCard has created a special Business-to Business (B2B) and Business-to-Government (B2G )interchange category that offers lower processing rates on all Visa business, commercial, purchasing and government credit card transactions. The B2B rate can be any where to 0.50% to 0.75% percent lower that a merchant pays for interchange or more than the normal processing rates offered to other industries. GDpay has a list of eligible industry types that can take advantage of these savings. The B2B rate will reduce your monthly processing fees by an average of 10-20%. When processing large transactions over $5000, GDpay can help you reduce your interchange fee even more by passing extra data.
Many businesses need to process credit card payments that average over $5,000 per transaction. The Card Associations (Visa) have specific interchanges that address these requirements which minimizes the costs of processing theses transactions. Businesses that qualify in this category often process transactions capturing level 2 and level 3 data for corporate and government cards. Level 2 data is designed to support B2B credit card transaction, since the majority of the cards accepted in this environment are corporate cards. Level 3 data is designed to support business-to-business and business-to-government payment processing, the majority of the cards accepted in this environment are corporate and government cards.
Level 2 Data
-Standard Information - Credit card number & expiration data, billing address, zip code & invoice number
-Customer Code - Isn't required but encouraged to be captured
-Sales tax amount must be submitted separate from the total transaction. Certain rules apply to the amount.
Level 3 Data
-Standard Information - credit card number & expiration data, billing address, zip code & invoice number
-Customer Code - is not required but encouraged to be captured
-Sales tax amount must be submitted separate from total transaction.
-Freight amount if applicable and can equal zero
-Duty amount, if applicable
-Product/Item ID (product/service)
-Unit of measure
MasterCard states that any convenience fee must comply with the following:
-Must be properly disclosed to the cardholder in advance
-Cannot discriminate against or discourage use of the MasterCard cards or brand in favor of any payment acceptance brand deemed by MasterCard to be a competitive brand, including American Express, Discover, and Visa
-Doesn’t have to be assessed on cash, check, automated clearinghouse (ACH), or personal identification number (PIN) based debit payments
-Can be assessed as either a flat per transaction fee, a variable or tiered rate fee based on the amount owed, or a fixed percentage of the amount owed.
-Elementary and secondary schools for tuition and related fees and school- maintained room and board
-Colleges, universities, professional schools and junior colleges for tuition and related fees and school-maintained room and board
-Local, state and federal courts of law that administer and process court fees, alimony and child support payments
-Government entities that administer and process local, state and federal fines
-Local, state and federal entities that engage in financial administration and taxation
-Government services - merchants that provide general support services for the government
-Additionally, MasterCard (unlike Visa) will permit a variable convenience fee to be assessed in connection with Debit MasterCard® transactions in card acceptor business code (MCC) 9311—Tax Payments. Also, note that Visa allows only a fixed or flat convenience fee payment amount, unlike MasterCard which allows a variable fee.