If your business accepts payments from the government or other businesses, you are paying the highest interchange rates in the industry. By capturing additional information, a virtual terminal can recognize if a transaction qualifies for a lower rate, and automatically apply it.

What is Interchange?

Interchange is a rate or fee charged by banks to cover the cost of handling and risk involved in bank credit or debit card transactions. Visa & MasterCard both publish the interchanges rates, also known as the wholesale cost to process a transaction.

VISA and MasterCard require different amounts of data to qualify for Level II and Level III rates. A card present transaction will have a lower cost than a payment received online or over the phone. B2B and G2B have different levels of interchange cost shown below.

As you can see from the picture, Data Rate 2 & 3 have a lower wholesale cost. A Visa Purchasing Card processed as card not present as interchange of 2.65%

If the same transaction included level III data, then it can be processed with an inter change of 1.95%! That is a 70 basis point savings off of the interchange cost

How Can I Implement This?

On our PayTrace Virtual Terminal, merchants qualify for the best interchange rates on every transaction. Our omni channel solution for secure payments is available online, in-office POS, and through any mobile device.

Even merchants accepting payments through common accounting software, CRM, and ERP applications connecting to our API are saving with interchange optimization.

Large ticket transactions frequently benefit from interchange optimization. PayTrace knows which cards qualify for Level II and Level III interchange savings.

PayTrace is optimized to intelligently process the most Level II and Level III qualifying data. This enables it to deliver the opportunity for lower merchant processing fees. It turns hours of work into seconds; making your work easy and saving labor costs.

Contact us today to learn more about this program.

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