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Fedmarket.com introduces InstantPay Payment Processing. Participating merchants will enjoy special merchant accounts with US Bank that feature payment processing through 3Delta Systems. Merchant processing with InstantPay offers the following key benefits:
Level-1 and Level-2 refer to a set of data elements that are transmitted during a credit card transaction. Level-3 is a larger set of data elements that includes line-item detail such as item description, quantity, unit of measure, price, and more. This line-item detail provides an electronic accounting solution to government agencies that use purchase cards. (Click here to see a chart comparing the data elements of the three levels.) Level-3 data is a priority in government. Government employees are generally encouraged to do business with merchants that pass Level-3 data. Government agencies prefer working with Level-3 merchants because the line-item detail reduces the need for receiving reports and other paperwork, and helps monitor the buying practices of government purchase card holders. In one study, ninety percent of purchasing managers reported that receiving Level-2 or Level-3 data from a supplier is important when making a purchase card transaction using electronic purchasing. (Source: Visa USA survey) To read more about the benefits of accepting Level-3 purchase cards, read Installment 31 of our "Doing Business with Government" series. Explosive Market Growth In fiscal year 2001, nearly 500,000 federal cardholders spent $13.8 billion through 24.4 million transactions.  Source: General Services Administration Lower Processing Fees InstantPay merchants enjoy lower processing fees. For companies that qualify, the InstantPay processing rate is 2.10% to 2.20% (depending on volume) with a small monthly fee of $45. For federal contractors, both MasterCard and Visa have special large ticket rates for the GSA SmartPay purchase card program that offer additional merchant savings. Automatic Online Processing InstantPay is available to merchants through our partnerships with platform provider US Bank and payment technology provider 3Delta Systems. Once approved, you can begin credit card processing immediately. Getting Started
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