If you are not working with a B2B and card-not-present partner for processing payments, you are likely not using your qualified interchange level and it’s costing your business money.
After years in this field, I find that most companies only working with their bank for merchant processing are losing money daily by not effectively processing. While banks have their specialties, unfortunately processing payments is just not one of them. Level 2 and Level 3 interchange rates are specifically set aside for B2B and card-not-present acceptors, and companies need to process in accordance with these levels to receive the reduced fees.
If you are a B2B company, you need to have a company that knows the details of how to process payments, and effectively. The great news is that it’s not too late. There are companies like Evolve Payment that specialize in B2B card processing and can walk you through the process of achieving lower rates and improving your bottom line.
Statements are set up to be extremely confusing so merchants don’t really know what to look for. Fortunately, we have over 20 years of experience navigating all types of statements and can help you review your current position, where you want to be, and how to get there.