Transaction information gathered during a purchase is referred to as credit card level 2 data, and it usually contains extra information like taxes, shipping charges, and client information. Leveraging credit card level 2 data may result in advantageous interchange rates, increased customer insights, and expanded reporting capabilities for organizations that accept credit cards, particularly in B2B transactions. It may seem difficult to integrate credit card level 2 data into your payment processing systems, but with proper preparation and a methodical approach, the process can be made simpler and have a big impact on your company.
Finding the Tools and Technologies That Are Needed
The process of integrating Level 2 data begins with determining the technology and tools that are required. Software for processing payments that supports Level 2 transactions will be necessary for businesses. Seek for solutions that can capture credit card level 2 data and are consistent with industry standards, such as PCI DSS, such as point-of-sale (POS) systems and payment gateways. A Customer Relationship Management (CRM) system that can handle customer data and transaction history should also be put into place. For data transmission and reconciliation, integration technologies that make links between these systems and your payment processor could be helpful.
Integration of Software for Level 2 Data Capture
The next stage is to start the software integration process when the required tools have been found. This can include working with payment processors to allow data collection fields for Level 2 information during transactions, depending on your current systems. Make sure that at checkout, your payment processing software is set up to request and keep necessary Level 2 data. To guarantee smooth data flow, you may also need to create APIs (Application Programming Interfaces) or employ pre-built connections with your current software systems. It is essential that these linkages be tested; use sandbox environments to confirm that the data collected satisfies Level 2 standards.
Modifications to Workflow to Encourage Data Gathering
Often, integrating Level 2 data requires making changes to current procedures. Workers who handle payment processing must get training on the proper collection and entry of Level 2 data. Best procedures for dealing with customers, giving receipts, and efficiently using the payment systems should all be covered in this training. Workflows may be streamlined and human error can be minimized by automating as much of the data collecting process as feasible. By adding prompts or triggers to your point-of-sale system, you may direct staff members to gather the necessary information during every client interaction.
Maintaining Security and Compliance
It is essential to give compliance and security first priority when integrating Level 2 data. PCI DSS criteria must be followed by all systems handling this sensitive data in order to preserve industry standards and safeguard customer information. Frequent system upgrades and audits may help reduce any security threats.
