Many businesses have software or a merchant provider who takes care of their credit card processing. Therefore the business itself has little to no knowledge about all the elements that go into B2B credit card processing. The more knowledge a business has about their transactions the more money they are able to save.
Preferred Payments’s article on mhwmag.com discusses each part of a transaction as well as ways that businesses can save money on their transactions. The article explains that while credit card transactions usually pass 3 pieces of data, there are still 25 other pieces of data that can be passed during the transaction. The enhanced data is known as level II and Level III data. Passing the additional data shows card brands that you are lowering the risk, therefore lowering the true cost.
Click here Learn more about how to lower your B2B credit card processing fee’s.