Revolution Payments launches Level 3 B2B payment gateway

Wednesday 22 July 2015 08:13 CET | News

Payments service provider Revolution Payments has debuted its B2B payment gateway allowing merchants to receive the reduced Level 2 and 3 interchange rates without requiring manual entry.

Commercial cards have tiered interchange rates and fit into three levels: Level 1, Level 2, and Level 3. Each level is defined by the additional information included with the payment transaction. For example, Level 1 card data is typically associated with consumer transactions and provides limited purchase data back to the cardholder. Level 2 requires tax amount and customer code on most transactions. Level-3 line item detail defines what’s being purchased, how and when the transaction takes place, with whom, and up to 12 additional fields that are captured and passed along with the payment transaction.

Since Level 3 reduces interchange costs, a merchant can capture a large amount of revenue not related to the rate their processor charges.

Revolution Payments’ B2B gateway automatically sends both Level 2 and Level 3 payment detail on a merchant’s behalf, without requiring the merchant to manually enter any of this data.

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Keywords: Revolution Payments, Level 3, B2B payment, payment gateway, interchange fees, card
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech