What is Level 3 Data? Everything You Need to Know

If you’ve ever worked in the space of major business-to-business (B2B) or business-to-government (B2G) transactions, you may have heard of level three or level two payment processing. In the process of researching credit card processing, it’s a good idea to take a few minutes to understand what level one, level two, and level three credit card transactions are. Credit Card Transaction Data Level/Rate Each level of credit card transaction is associated with a set of data fields. With every credit card transaction comes some amount of auxiliary information. The most basic and common type of credit card transaction is the level 1 transaction. The basic data fields required to complete a level 1 credit card transaction are: Merchant DBA Name Billing zip code Transaction amount Additional information, such as the date and time of the transaction and additional cardholder information is automatically recorded by the bank but isn’t explicitly reported by the merchant…

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