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How Does Sage 100 Integrated Credit Card Processing Impact Rates?

Sage 100 Pillar PageBy now, you’ve read and heard a lot about how Sage 100 credit card processing enables you to easily process Level 3 payments that include enhanced data. But what you may not know is exactly how much you can save on your rates. We take a closer look at how rates are impacted when you integrate payments with your Sage 100 financial management system.

A Brief Overview of Level 3 Sage 100 Integrated Credit Card Processing

In case you missed it when we went into detail about Sage 100 integrated Level 3 credit card processing in our previous post, here’s a brief overview of what it means to accept and process Level 3 payments.

Level 3 refers to the maximum level of ‘line-item detail’ required to be passed by your system when a payment card is presented for card present and card not present purchases. Transaction details will include item purchased, quantity purchased, and other merchant-specific order information. Typically, this information is made available when the purchaser uses any card that is issued for a specific type of business purchase by a business or government agency such as government-issued cards, business, or corporate purchasing cards. 

Most government agencies and some other types of businesses that also use purchasing cards will mandate Level 3 data so they can monitor their employees’ spending. A fast-growing segment of payment types, you’ll want to be ready when those types of cards are presented. Additionally, you can save up to a full percentage point per transaction.

Sage 100 Credit Card Processing

Level 3 Impact on Rates

For the business taking the card, processing transactions by including level 3 data will result in lower costs than level 1 data, resulting in a lower overall cost. Visa’s interchange rate reimbursement table specifically displays that B2B payments are charged better pricing. 

Now let’s take a closer look at Visa’s rates and calculate exactly how much you can save with Level 3 processing:

For example, a transaction that qualifies for Commercial Level 3 would be charged 1.90% + $0.10 which is .60% cheaper than the rate for a Commercial Level 2 transaction which is shown as 2.50% + $0.10.

In scenarios where you accept a commercial credit card and don’t provide level 3 data, you’ll pay .80% more because the Commercial Card Not Present category will cost you 2.70% + $0.10 compared to Level 3.

The single most expensive fee category, and one you’ll want to avoid, is the Commercial Standard Interchange Reimbursement Fee category. If you accept a commercial credit card, don’t provide level 2 or 3 data, and also fail to pass minimum requirements, you can expect to pay a whopping 1.05% more than you could have paid with Level 3.

Get Started Today!

Getting started is easy. Users of Sage 100 will be happy to know that your system is already enabled and fully integrated so that you can provide Level 3 data without a lot of extra, manual steps. The system automatically gathers the data and transmits it with the card transaction. It will be easy to save yourself some money.

The team at VIP Integrated Payments (VIP) are experts with integrated payment technology solutions for North American merchants, differentiated by their strategic partnerships and multiple platform model. VIP provides a broad suite of end-to-end payment solutions and superior US-based customer support. They have spent more than 25 years integrating and developing relationships.

VIP’s credit card processing solutions integrate seamlessly with your ERP/accounting system, allowing you to accept credit card payments inside your software. The integration automatically posts payments to invoices, so there’s no need to go back into your program at the end of the day to reconcile your invoices or balance your general ledger. How much time could that save you every day?

Contact the experts at VIP Integrated Payments today to start saving time and money with Sage 100 Level 3 credit card payments. You can reach VIP by phone at (888) 791-9390 ext. 101, or email them at info@vipintegratedpayments.com.