Level III 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 III data requires the most – and most granular – information at the time of the transaction. To qualify, merchants must submit all of the information captured in Level 1 and Level 2 data transactions along with additional data. This may include dozens of extra data elements, but more commonly adds 15-20 more details such as:
- Item commodity code
- Item Descriptor
- Quantity
- Discount amount
- Ship-From/Ship-To ZIP Codes
- Destination Country
- Freight / Shipping Amount
- VAT information (tax amount, rate, invoice #)
The increased amount of information required to qualify for Level 3 status makes each transaction more secure, and in most cases brings the lowest interchange rates.
