SwipeSimple supports Level 2 Interchange Qualification on the Virtual Terminal, Scheduled Payments, and Invoicing features, which lowers interchange fees for business to business transactions.
Transactions will automatically be attempted to qualify for Level 2 if the merchant adds the following fields:
- Tax (between .01% and 30%)
- Reference Number (can be any alphanumeric combination up to 64 characters long)
All other required data is automatically completed for the merchant.
Note: The processor controls whether or not a transaction ultimately qualifies for Level 2 and what the subsequent interchange fee is, this data is not available within SwipeSimple. Please contact your Merchant Service Provider for more information.
For more information, watch our At your computer webinar.