Let’s start out with a heads up: this is going to be a deep dive into business-to-business (B2B) and business-to-government (B2G) rates. If you’re new to payment processing, or need a refresher on Interchange, we suggest you start with our What is Interchange? FAQ. As a reminder: Interchange is a fee [...]
Visa and Mastercard have very particular rules about what is required in order to receive level 2/3 rates. The one requirement that typically causes the most frustration for merchants is a Tax Value. Per Visa/Mastercard’s rules, you are required to submit a tax value with your sale if you want to qualify [...]
Terminal applications are closely related to MCC codes. All credit card terminals have a specific software downloaded to them, to allow for specific transaction types. Thus, having an incorrect terminal application may result in your terminal not allowing certain types of transactions. The “standard” terminal application is known as the [...]