What is Level 3 payment processing?

Asked by: Eudora Yundt  |  Last update: July 31, 2025
Score: 4.5/5 (28 votes)

Level 3 credit card processing is used in B2B and B2G transactions to help larger businesses save on processing rates and fees. By collecting and providing an additional set of transactional data, this top level of processing offers significantly lower interchange rates for Visa and Mastercard transactions.

What is Level 3 credit card processing?

Level III Credit Card Processing: Large Tickets, B2G, and Purchasing Cards. Level III (or level 3) data refers to providing specific line item details at the time of a purchasing card or government card transaction beyond what is required for consumer card transactions.

How do you qualify for level 3?

Q: What data is required to qualify for Level 3 processing rates? To qualify for Level 3 processing rates, businesses must provide all Level 1 and Level 2 data, plus additional details such as the shipping postal codes, invoice and order numbers, freight amount, product codes, and line-item details of the purchase.

What is a Level 3 credit?

Level 3 (13-180 credits) = AS, A level, Level 3 Cert/Diploma = Apply of Knowledge & Skills. Level 4 (13-120 credits) = Year 1 of Bachelor's Degree, Level 4 Cert/Diploma = Analysis of Knowledge & Skills. Level 5 (13-120 credits) = Year 2 of Bachelor's Degree, Level 5 Cert/Diploma = Advanced Knowledge & Skills.

What is the difference between Level 2 and Level 3 processing?

Level 2 credit card processing is similar to Level 3 processing, but with less requirements. Just like with Level 3 data, merchants are required to input additional data fields – but typically, the required fields are easier to enter and there are fewer fields to deal with.

Level 3 Payment Processing

45 related questions found

Does Amex get level 3 data?

Requirements for Level 3 data

American Express: does not offer Level 3 commercial card processing.

What is the difference between Level 2 and Level 3 process?

The approach breaks down Process Mapping into three levels of detail. A Level 1 map shows the process at its highest level with a focus on the “what”, a Level 2 map shows the process in more detail with a focus on the “who does what”, and a Level 3 map focuses on the transactional level with a focus on the “how”.

How many credits is a level 3?

The Level-3 Course is a 120-credit course equivalent to 2 A levels. The course comprises 6 modules and 6 written assignments. This course provides entry onto the first year of an Undergraduate Degree or Level-4 study.

What is a level 2 payment?

Each level is defined by the amount of information provided to process the transaction. Level 1 includes standard transaction data, such as, date, card number, and total order amount. Level 2 includes Level 1 data plus enhanced transaction data, such as customer reference number, invoice number, and sales tax amount.

What is a Tier 3 credit score?

Tier 3: A score of 670 to 689, and that's “very good.” This tier means you “have a positive credit history with no recent late payments.” Tier 4: A good credit score ranges between 650 to 669 and means you're “responsible with my credit and usually make my payments on time.”

How many credits do you need to pass level 3?

NCEA (Level 3) will be awarded to people who have achieved a total of 80 credits which is comprised of: • a minimum of 60 credits at Level 3; and • the 20-credit NCEA Co-requisite.

How do you get approved for Level 3 options?

Getting approved for Level 3 options trading involves demonstrating to brokers that you have the requisite knowledge, experience, and financial resources to handle more complex strategies.

What is Level 2 data in payments?

Level 2 processing is designed for business and government transactions that require additional data. This level involves collecting more detailed information beyond the basics of Level 1, such as the customer's tax ID, purchase order numbers, and specific sales tax information.

What is a third payment processor?

A third-party payment processor is a service that allows businesses to accept online payments. These payment processors facilitate transactions between the customer and the business by transferring funds from the customer's bank or credit account to the business's bank account.

What does it mean when a credit card payment is processing?

In simpler terms, the transaction has received the initial approval but is still awaiting completion of the final processing steps. For instance, imagine you've just made an online payment with a credit card.

What is a Level 1 credit card?

The main difference between them is the amount of data they provide. Level 1 data includes basic information about a transaction, such as the amount, card number, and expiration date. Level 2 data includes additional information, such as the tax amount, merchant's postal code, and customer code.

What is level 3 data for credit cards?

Collected data

In addition to tax amounts and customer codes (Level 2 data), Level 3 data includes item information such as product, code, item quantity, description, unit of measure, unit cost, and more. Different data is collected based on whether the card is Mastercard or Visa.

What is the difference between level 2 and level 3?

Level 1 courses provide basic knowledge, and are ideal if you're new to a subject area. Level 2 courses are slightly more advanced and begin to build specialist knowledge. Level 3 courses develop specialist knowledge and can help you to enter employment or prepare you for university study.

Which is higher, gold credit card or platinum?

Platinum cards give higher minimum credit limits than gold cards, which can be a bonus if you spend a lot on credit and can responsibly manage your credit card payments. Platinum cards charge higher annual fees than gold cards offered by the same provider.

What is level 3 equivalent to?

Level 3 qualifications are: A level. access to higher education diploma. advanced apprenticeship.

What does credits 3 mean?

Typically, for a 3-credit class, students will have 3 contact hours — or 3 hours of in-class or online lectures.

How much money is 3 credits?

The cost of taking one college class usually depends on how many credits it's worth. On average, one college credit costs about $500Note Reference — that's $1,500 for your typical three-credit course. However, there is a massive difference in costs between college types.

What is an example of a Level 3 process?

Level 3. This level specifies a particular process within a group. For example, the facilities management group may include space management, work order management, and maintenance processes. The IT service management process group includes incident, change, and problem management, to name a few.

What is the level 3 credit card processing rate?

Visa Commercial (Business and/or Company) Card Interchange Rates:
  • Level 3 processing: 1.90 percent + $0.10.
  • Level 2 processing: 2.50 percent + $0.10.
  • Card Present transactions: 2.50 percent + $0.10.
  • Card-Not-Present (CNP) transactions: 2.70 percent + $0.10.
  • Standard Interchange Reimbursement Fee: 2.95 percent + $0.10.

What is Level 3 process?

Level 3 = Task Level.

Level 3 describes the detail of the task as a set of actions or if required as a process model. As a task can only be done by one person, in one place at one time, this is the lowest level of detail and cannot be broken down further. Rules, decisions and control points should be documented.