Level I Data
Level 1, Level 2, and Level 3 data refers to the amount of transaction information submitted by a merchant for payment processing. Each level is a set of required data elements that must be transmitted in order to complete a transaction.
The divisions between levels are based on how much information the merchant sends. This is relevant in that the more data transmitted, the lower the risk of fraud and chargebacks.
Level 1 data is standard for all transactions. It consists of the bare minimum of details necessary for business-to-consumer (B2C) transactions. This might include:
- Card number/CVV
- Transaction Amount
- Currency Code
- Merchant Name
- Merchant Category Code (MCC)
- Date of transaction
Level I transactions are the easiest because they require the least amount of information. At the same time, that makes them the least secure, and therefore typically the most expensive to process.