Regardless of the environment, vendors must be prepared to process level 3 data

The commerce industry, like many other sectors, has changed drastically in recent years due to the rise in technology. In the past, mention of the retail industry evoked images of consumers waiting in line at a brick-and-mortar store to pay for a product. B2B sales involved phone conversations and traveling professionals flying all over the country to close deals and help implement new products and services into their customers' environment. While both examples still persist today, they are certainly not the only ways to buy a product and make a payment. 

Today, the internet has changed virtually every aspect of the common sale. Customers can view products online before deciding to buy. Given the seemingly endless resources the internet has to offer, consumers can make smarter purchasing decisions because they have the ability to do price comparisons, read online product reviews and even watch videos of them in action. It would seem that the internet is built to benefit the consumer, but businesses that take advantage of its capabilities will receive an equal benefit.

Companies that implement an eCommerce solution can gain an advantage simply by saving resources traditionally used to conduct outbound marketing and sales techniques. Selling online reduces overhead costs and allows businesses to optimize the value of each transaction.

Of course, regardless of the environment where the transaction took place, vendors must ensure they are equipped with a solution to properly process customer information. Level 3 data is a must, regardless of the platform, if merchants want to pay the lowest possible interchange rate. 

Given the amount of possible options and the fact the number is growing - mobile is becoming a major vehicle for both B2C and B2B payments - vendors have to be prepared for everything. When obtaining the payment solutions designed to process level 3 data, vendors need to be cognizant of all possible payment environments. 

by Ty Hardison

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