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Level III Data Requirements
Visa and Mastercard want to encourage merchants to capture extra data about each purchase because it is useful to some of their corporate and government customers. Thefore, they offer better interchange rates when more information about the purchase is captured by the merchant. Level III is the highest level of additional data capture and includes the following fields:
Merchant Name, Transaction Amount, Date – these are all also required for level I and are captured and reported automatically by all credit card terminals and point-of-sale systems.
Tax Amount, Customer Code (16 characters), Merchant Postal Code, Tax Identification, Merchant Minority Code, Merchant State Code – these are also required to meet Level II Data Requirements.
Item Product Code, Item Description, Item Quantity, Item Unit of Measure, Item Extended Amount, Item Net / Gross Indicator, Item Tax Amount, Item Tax Rate, Item Discount Indicator, Ship from Postal Code, Freight Amount, Duty Amount, Destination Postal Code, Destination Country Code, Alternate Tax Amount – it’s not really possible for businesses using those little black desktop terminals to capture this information, this is really only applicable to businesses that are using a computer system or point of sale system to capture the transaction.
