How Most Merchants Process
Level/Data I
2.30%
2.75%
2.75%
2.65%
Visa EIRF
Corporate Electronic
Purchasing Electronic
Business Data Rate I
How a Few Merchants Process
Level/Data II
Visa EIRF
Corporate Level II
Purchasing Level II
Business Data Rate II
2.30%
2.05%
2.05%
2.00%
How Very Few Merchants Process
Level/Data III
Visa Keyed
Corporate Level III
Purchasing Level III
Large Ticket
Business Data Rate III
1.80% 0.50% Less
1.95% 0.10-0.80% Less
1.95% 0.10-0.80% Less
1.45% 0.60-1.30% Less
1.75% 0.60-0.90% Less
Above is a small sampling of the hundreds of interchange categories.
Attention: Level/Data III is short for "Visa Level III" and "MasterCard (MC) Data III".
Visa Level III and MC Data III are based on how a transaction clears.
Merchants get confused when they see:
-
Visa Tier 3 (T3), thinking this is good, or Visa Tier 4 (T4), thinking it's even better! Tiers have nothing to do with how a transaction clears, and is not controlled by the merchant.
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MC Level 1, 2, 3 and 4: MasterCard uses the word "Level" instead of "Tier". However, they are the same thing.