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updated: Jun 3, 2020 20:41 EDT
June 3, 2020 (Newswire.com) –
Revolution Payments reveals a Level III Credit Card Processing solution for QuickBooks Online users. Level III processing can reduce a business’ interchange expenses for accepting commercial cards by up to 43%.
Interchange accounts for the largest portion of a business’ credit card processing fees (80% or more) and it’s paid to card-issuing banks.
Visa and MasterCard allow purchase, fleet, commercial, business and government cards to qualify for lower interchange rates only when Level II and Level III processing detail is processed with a transaction.
Unfortunately, many businesses are not passing along the enhanced data required to receive these lower interchange rates; others are using software or a device that does not support Level III processing.
Revolution Payments automatically updates each transaction to level II/III interchange rates, without the need to manually enter this data or worry about human error.
This optimizes transactions to the lowest-possible interchange rate, increasing profit margins from interchange revenue.
- Receive Payment
- Credit Memo
- Sales Order
- Offline mode – accept credit cards without having internet access and process those later
- Print payment receipts
- Performs transaction types like Authorize, Capture, Void, Credit, etc.
- Level II support for reduced credit card transaction fees
- Level III support for purchasing cards
- Accept credit card and electronic check payment
Source: Revolution Payments