Interchange Optimization - Paymetric · 2019-09-10 · interchange rates. Benefits §Lowers...
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Merchants are experiencing customer demand and increased pressure to reduce card processing fees and provide line-item transaction detail for billing, payment, disputes and reconciliation. Level III data includes expanded details on the goods or services being purchased. The challenge for the merchant is to find a solution capable of extracting this data from enterprise payment acceptance systems and converting 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. Each processing level requires that a certain amount of information be passed through the processing system in order to remain qualified, ensuring that the business gets the lowest possible processing rate. Paymetric’s XiOptimize™ solution for XiPay® On-demand enables interchange optimization by transmission of Level II/III data from any enterprise payment acceptance system to the merchant’s payment processor. Because the card associations incentivize merchants for providing enhanced data, companies that provide Level II/III transaction details can experience a significant reduction in interchange rates. Benefits § Lowers interchange rates up to 100bps § Increases competitiveness for winning new contracts § Improves customer satisfaction Interchange Optimization Enables your company to qualify for the lowest possible interchange rate. Reduces TCO payment processing up to a full percentage point which equates to a 30% savings
Transcript of Interchange Optimization - Paymetric · 2019-09-10 · interchange rates. Benefits §Lowers...
Merchants are experiencing customer demand and increased pressure to reduce card processing fees and provide line-item transaction detail for billing, payment, disputes and reconciliation. Level III data includes expanded details on the goods or services being purchased.
The challenge for the merchant is to find a solution capable of extracting this data from enterprise payment acceptance systems and converting 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.
Each processing level requires that a certain amount of
information be passed through the processing system in
order to remain qualified, ensuring that the business gets
the lowest possible processing rate.
Paymetric’s XiOptimize™ solution for XiPay® On-demand enables interchange optimization by transmission of Level II/III data from any enterprise payment acceptance system to the merchant’s payment processor. Because the card associations incentivize merchants for providing enhanced data, companies that provide Level II/III transaction details can experience a significant reduction in interchange rates.
Benefits
§ Lowers interchange rates up to 100bps
§ Increases competitiveness for winning new contracts
§ Improves customer satisfaction
Interchange Optimization Enables your company to qualify for the lowest possible interchange rate.
Reduces TCO payment processing up to a full percentage point which equates to a 30% savings
Processing Level Qualification ChartThis chart demonstrates exactly how much information is needed to pass through the processing system for a level II/III eligible transaction in order to qualify for the lowest possible interchange rate.
Data Type Level I Level II Level III
Merchant Name X X X
Transaction Amount X X X
Data X X X
Tax Amount X X
Customer Code (16 Char) X X
Merchant Postal Code X X
Tax Identification X X
Merchant Minority Code X X
Merchant State Code X X
Item Product Code X
Item Description X
Item Quantity X
Item Unit of Measure X
Item Extended Amount X
Item Net/Gross Indicator X
Item Tax Amount X
Item Tax Rate X
Item Tax Identifier X
Item Discount Indicator X
Ship from Postal Code X
Freight Amount X
Duty Amount X
Destination Postal Code X
Destination Country Code X
Alternate Tax Amount X
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Interchange Optimization
