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The Problem

Merchants experience increased pressure from their customers to provide Level 3, or line-item transaction detail, for billing, payment, disputes and reconciliations.  Level 3 data includes expanded details on the goods or services being purchased.  The challenge for merchants is to find a solution capable of extracting this data from enterprise payment acceptance systems, and convert it into the appropriate format for the processor, so that transactions remain qualified.  A qualified transaction ensures the merchant can take advantage of the lowest possible processing rate.

The Answer

Paymetric’s Level 3 Processing solution for XiPay™ On-Demand enables transmission of Level 3 data from any enterprise payment acceptance system to the merchant’s payment processor.  With Paymetric’s solution, merchants can meet customer demand to provide invoice-level details.  The significant advantages of meeting this demand are a cost savings to the merchant.  Because the card associations incent merchants for providing enhanced data, companies that provide Level 3 transaction details can experience up to a 1% reduction on any interchange fees assessed.  In addition, the enhanced data reporting capability often desired by purchasing and accounts payable departments may increase the merchants’ competitiveness in winning new contracts.

Benefits

• Reduces TCO of payment processing with up to a 1% reduction of interchange fees  
• Enables simple reporting
• Increases competitiveness for winning new deals
• Enhances customer satisfaction

Processing Level Qualification Chart

This chart explains exactly how much informations needs to be passed through the processing system for a Level 1, 2, or 3 transaction to not downgrade and remain qualified for the lowest possible processing rate.