Get the lowest rates. Period.
Most merchants aren’t aware of the special savings that Visa/MasterCard offer to merchants who engage in Level 2 and Level 3 processing. It’s not common knowledge – but typically, merchants can save over half of a percent by following proper B2B processing guidelines. Usually, these guidelines can feel onerous – merchants are required to submit all sorts of additional data with each sale, which can be cumbersome, time-consuming, and very confusing. So most merchants simply don’t bother.
That’s where the MX B2B app comes into play. With the MX B2B App, you don’t have to do anything special! Once enabled, you simply enter a sale into the MX Virtual Terminal like normal, and in the background we’ll populate any “missing” information. This ensures that you’ll always get the lowest rate on any given sale. No extra work, no extra hassle, no extra time spent. And, if you’re processing over $100k/month, you’ll also qualify for Dharma’s high-volume B2B rates.
How much savings are we talking about?
It depends on the type of card you’re processing – but savings can be significant. Particularly if you process large sales (over $7,500), interchange fees can be reduced by over 40%. This can mean hundreds of dollars of savings on a single transaction. Wow! Here are two common examples:
Visa Level 3: 1.85% + $0.10/sale. For a $3,000 sale, you’d pay $55.60 in total interchange fees. Compare that to the $76.60 you’d have paid on a standard Visa Purchasing Card, and you’re looking at interchange savings of $21 on a single $3,000 Visa transaction. That’s over 27% below standard interchange rates!
MasterCard Corporate Large Ticket: 1.25% + $40.00/sale. For a $20,000 sale, you’d pay $290.00, or only 1.45% in total interchange fees. Compare that to the $530.00 you’d have paid normally, and you’re looking at interchange savings of over $240 on a single $20,000 MasterCard transaction. That’s a 45% reduction from standard interchange rates!
How easy is B2B Processing?
It’s easy. It doesn’t get any easier. Have we mentioned it’s easy?
With MX Merchant, running a B2B sale and getting lower interchange rates doesn’t require any additional work on your side. You don’t have to set anything special up. You don’t have to train your employees. You don’t have to add line-item information. It just works! Once the app is installed:
- Run sales just like normal.
- Automatically qualify for the lowest rates.
- Access level 2 and level 3 processing, built right into the system.
- No extra transaction fees – just pay a flat $20 monthly fee for the B2B app. MX Merchant takes care of qualifying all future sales for the lowest possible interchange rate.
- Any merchant taking wholesale/B2B payments will benefit from this system.
- Processing over $100k/month? See our high-volume B2B rates.
Learn more about MX Merchant
Learn about the QuickPay Virtual Terminal
Accept ACH (check) payments with low rates
Send and Receive Invoices, and set Recurring Payments
Save credit card data in the Customer Database
Take swiped/chip-card iPhone/iPad payments
See detailed business analytics with MX Insights