Business-to-business (B2B) and business-to-government (B2G) purchases are increasingly being made with purchasing, corporate and business type cards. With Level 3 data, transactions can be processed at the lowest interchange costs. Level 3 data is a requirement to conduct business with most governmental entities.
Typical credit card processing fees for B2B transactions cost 2.65% or higher, but Level 3 Processing rates can be 0.50% – 1.50% lower (a savings of up to 43%). That means you could keep approximately $13.50 more for each $1,000 of Level 3 Processing!
If you accept credit cards and some portion of those cards are B2B or B2G (government) then you should also be looking at whether your merchant is providing you with Level 3 rates.
Steps for setting up Level 3 credit card processing in Sage 100:
You must have a payment type that is set up to allow level 3 credit card processing. Select the Accounts Receivable Setup menu and see Payment-type maintenance. Enter the payment type, then check the Allow Corporate Cards check box, then see the Include Level 3 Data check box. Select this check box to transmit information required for level 3 credit card processing when processing a payment in Sales Order Entry and S/O Invoice Data Entry. Commodity codes are included in the information sent for Level 3 credit card transactions. Commodity codes can be set up for inventory items in advance to speed up entries needed for your level 3 transactions.