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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.

Level 3 Data

In credit card processing, level 3 data refers to additional information beyond the minimum requirements and beyond level 2 that's included with each credit card transaction. Merchants who meet the requirements for level 3 processing may be eligible for lower processing fees. Information need for level 3 may include the product description, product ID or SKU, unit price, and unit of measure. Level 3 may also be referred to as data rate 3.

Loyalty Program Fraud

Loyalty Program Fraud occurs when exploits or abuses a customer loyalty program for personal gain. Common methods of loyalty program fraud include creating multiple accounts to abuse first-time purchase or referral rewards, gaining rewards points by purchasing and returning expensive items, and using employee access to manually add points to an account. Read more >>>