June 7, 2023
• Guidance & Insights
• Credit Card Processing
• Accepting Payments

What’s so great about interchange optimization?

PayTrace delivers significant cost and time savings on B2B, B2G, and large ticket transactions.
merchant onboarding

Would you like your merchant processing fees reduced? PayTrace interchange optimization reduces fees on B2B transactions for vendors who pay your company using business cards.

You already know that PayTrace enables merchants to accept cards online, over the phone, and in person. But does interchange optimization apply to all these scenarios? You betcha. These types of B2B payment fee savings are available on all PayTrace products, all day, every day.

The short story is that PayTrace helps to qualify your transactions at Level ll and Level lll rates. Our payment platform optimizes data fields and provides instant access to these savings. We also turn hours of work into seconds, making your work easy and saving you labor costs.

For a more detailed explanation, read on…

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. These fees are set by the credit card networks.

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

What’s the difference in the fee levels?

Credit card processing is divided into three levels:

  1. Level 1 is generally used for commercial purchases by individuals and is the most common.
  2. Level 2, which can save your company money, is used for government and business purchases and requires additional shipping and tax information.
  3. Level 3 requires additional product identification information and freight or shipping cost information, plus certain volume requirements – in addition to what’s required for Level 2.

Depending on the amount of information needed and who is making the purchase, Levels 2 and 3 will lower your processing costs. To qualify, all merchants need a card processing service that can handle that additional data.

How does PayTrace help you qualify for the lowest rates?

Collecting additional customer data makes a transaction more secure and reduces the risk of fraud or chargebacks. Our system automates the process of pulling additional data needed to qualify, which means no extra work is required on the part of the merchant.

What data is required to qualify for each rate?

Visa and Mastercard require different amounts of data to qualify for Level II and Level III rates. PayTrace optimizes this data so merchants can qualify for higher savings on each transaction.
Visit the Mastercard rate matrix
Check the Visa rate matrix

What are the potential savings?

We’ve helped to create a prospecting tool that analyzes B2B merchant credit card statements. Using this tool, you can see a dollar total of how qualifying for Level III can impact your bottom line. Remember, high-volume purchases can also qualify for lower rates.

To get started: visit PayTrace Interchange Optimization to analyze your statement.

What else is so great, beyond savings?

Your vendors can also benefit from paying using their credit card. This is because business cards enable corporations to set spending limits and add restrictions. The additional data provided through Level 2 and 3 processing helps them track sales tax details and ensure their card is being used properly.

We hope that answers some of your top questions about how PayTrace can help you lower your processing fees and save lots of time and money. Get in touch – we’re standing by!

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