Eight Ways to Save Money - Method #8 - Capture Level II and III Data

Capture Level II and III Data on Corporate Card Transactions

Visa and MasterCard business, commercial and purchasing cards are used just like personal credit cards. However, these cards have higher interchange rates because they offer businesses high value (and costly) features such as enhanced reporting, consolidated billing for multiple cards and statement enhancements.

The general rule with these types of transactions is the more data collected the lower the discount rate is. Just by entering in the Level II data noted below you can cut your rates by up to .60%. So this is definitely worth looking into if your business has a high volume of business/corporate card transactions

To receive Level II rates here is what information needs to be included:

Visa: Sales tax amount (must be between .01% and 22%)
For purchase cards - a tax indicator and customer code

MC: Sales tax amount (can enter $0)
For purchase cards - a tax indicator and customer code

To receive Level III rates include everything listed above and the following:

Visa: Discount amount, freight/shipping amount, duty amount, item commodity code, item descriptor, product code, quantity, unit of measure, unit of cost, discount per line item and line total.

MC: Product code, item quantity, item description, item unit of measure, extended item amount, debt or credit indicator.

What You Can Do