Level 2

Level 2 refers to a tier of credit card processing that requires additional data compared to standard consumer transactions. This level is typically used by businesses and government agencies to gain more detailed information about their transactions, helping with expense tracking and financial control.

Level 2 transactions can also qualify merchants for reduced interchange fees. It is particularly beneficial for merchants who process a significant volume of B2B or B2G transactions, as it can lead to substantial cost savings. By providing more detailed information, merchants can reduce the risk of disputes and chargebacks, and create a more streamlined and efficient accounting process.