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In addition to the cost savings resulting from providing Level-3 for all transactions, both MasterCard and Visa have created a special “large-ticket” interchange rate for the GSA-SmartPay program.
When supplying Level-3 data with transactions greater than $7200, the transaction rate can be calculated differently — a fixed transaction fee, plus a much smaller percentage.
Example, for a transaction of $25,000 the effective rate may be just over 1% — and the supplier still obtains their money in about 48 hours.
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