| Term | Definition |
|---|---|
| Level 2 Data |
In credit card processing, level 2 data means additional information beyond the minimum requirements that's included with each credit card transaction. Merchants who fulfill the requirements of level 2 processing may be eligible for a reduction in their processing fees. The information needed for level 2 may include the customer code, tax amount, and merchant postal code. Level 2 may also be referred to as data rate 2. |
