Since not all industries accept credit cards, Visa tries to incentivize “newer” industries with lower, more advantageous interchange rates. These are called Emerging Market interchange rates. The only qualifying business types are Schools, Government Offices, Insurance-sales, Fuel Dealers, Child Care Services, and Direct Marketing Subscription services. Charities and Telecommunication merchants are eligible for debit rates only.
Since not all industries accept credit cards, Mastercard tries to incentivize “newer” industries with lower, more advantageous interchange rates. These are called Emerging Market interchange rates. The only qualifying business types are Schools, Government Offices, Insurance-sales, Utilities, and Toll-Roads.
Level 2 credit card processing refers to a more detailed transaction designed to support business-to-business (B2B) payment processing. Many businesses and government offices require that their vendors accept detailed transactional information along with the sale. In addition to simplifying the B2B transaction, providing Level 2 data along with the sale allows access to lower interchange rates.
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