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 can capture all the extra data needed by Visa / Mastercard in the MX Virtual Terminal. This ensures that you’ll always get the lowest rate on any given sale. 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: 1.75% + $0.10/sale. For a $3,000 sale, you’d pay $52.60 in total interchange fees. Compare that to the $81.10 you’d have paid on a standard Visa Purchasing Card, and you’re looking at interchange savings of $29 on a single $3,000 Visa transaction. That’s almost 30% 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 $540.00 you’d have paid normally, and you’re looking at interchange savings of over $250 on a single $20,000 Mastercard transaction. That’s a 46% reduction from standard interchange rates!
How easy is B2B Processing?
With MX Merchant, running a B2B sale and getting lower interchange rates requires you to capture the extra data needed to trigger the L2/L3 rates. While capture the extra data may seem onerous, the savings can really offset the extra work.
- Run sales just like normal, but with some additional information.
- 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 captures all you need to achieve the best rates.
- 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
Learn about B2B Processing with the MX B2B App
Send and Receive Invoices, and set Recurring Payments
Save credit card data in the Customer Database
Accept ACH (check) payments with low rates
See detailed business analytics with MX Insights