MX B2B ™ Recap — Priority University Continuing Education Fall Webinar Series
In last week’s Priority University Continuing Education Webinar Series, Andrea Brock reviewed MX B2B, the MX Merchant marketplace app that allows you to seamlessly accept Level II, III and large ticket payments.
Quick Recap / Did You Know?
- Business to Business are transactions that typically occur between two businesses and are transactions made using: Business, Corporate and Purchasing cards.
- These card types may qualify for a lower interchange rate so long as additional requirements are met, or what is referred to as Level II or Level III data is passed along with the transaction.
- The biggest benefit is seen by Merchants processing in a card-not-present environment, but Priority’s B2B App can also assist with card-present Merchants.
- Level II and III Data consists of transaction details such as: Tax amount, Unit of cost and Product code.
- It’s important to remember that settlement time and the Merchant’s MCC/SIC code assigned are also qualifiers.
- American Express and Discover do not participate in these programs.
- Merchants may receive a reduction in Interchange rates on Business, Corporate or Government payments as well as Large Ticket sales on Commercial cards with no additional data entered by Merchant.
- MX B2B is a competitively priced Integrated App, available on FD and TSYS and works with the MX Invoice App.
- Target Merchant Types: Commercial Landscaping, Contractors and Invoice & Recurring Billing Users.
Did You Miss the Webinar?
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