SwipeSimple Adds Level 2 Interchange Functionality

Posted: June 27, 2019 | Updated: February 8, 2021

Swipe Simple adds Level 2 Data

CardFlight, a leading SAAS point of sale company and creators of SwipeSimple POS, announced the addition of Level 2 data acceptance within the SwipeSimple Merchant Web Dashboard. CardFlight is adding this functionality free of charge. Beginning July 1st the new Level 2 Data tools will automatically be added and accessible by any existing merchants. This update adds the ability to track new data sets that enable the transaction to meet Level 2 standards and thus gives the merchant access to the lower card, not present interchange rates.


What is Level 2 Data?

Let’s start from the beginning – interchange rates differ depending on the risk level. For instance, ‘card present transactions’ are deemed less risky than ‘card not present transactions’. Because the merchant is standing face to face with the cardholder in a ‘card present transaction’, card brands deem this to be a low-risk transaction and gives it a standard interchange rate. On the other hand, a ‘card not present’ transaction, such as an online transaction, is viewed as much riskier. Since the cardholder is not physically present and is performing the transaction remotely, the interchange rate is higher due to the risk level. Level 2 is a way to reduce the risk level on ‘card not present’ transactions and thus lower the interchange rate. To qualify for Level 2 data the merchant must collect extra information from the cardholder. The extra data required to qualify for Level 2 interchange rates are the following: standard card information, merchants name, transaction amount, tax amount, transaction date, customer code or invoice number. Supplying this added information lowers the risk level and lowers the interchange rate as well.


How to get Level 2 interchange with SwipeSimple

Beginning July 1st, 2019, the SwipeSimple Merchant Web Dashboard will automatically update to include the ability to collect extra data points that will qualify the transaction for Level 2 interchange. Merchants do not need to take any special steps to be able to use this functionality.


For further information please call our product specialists at (877) 517-4678 opt: 1.


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