As you set out to process different payments for your business, you need to consider various degrees of security. That’s where payment processing levels come in. Different levels dictate not security capabilities, but your ability to work with certain clients and business types. FLO Business Solutions can help you determine the difference between level 2 and level 3 payment processing—and why they’re both superior to level 1 processing.
Whether you’re looking to work with the government or process more basic Amex payments, we’ve got you covered. Knowledge is power, and when you’re done with this blog, you’ll have a better idea of what you should choose.
What are the different credit card payment processing levels?
When we process credit card payments, we essentially divide them into different levels. These levels cover the types of payments you’re allowed to handle based on the amount of info you collect. On a basic level, you’re dealing with different degrees of security obtained through this information. We divide them into:
- First – Level 1
- Second – Level 2
- Third – Level 3
The higher the level, the more secure the payment processing method becomes, and the more access it allows the vendor. While you may not have to go to the trouble of collecting too many different types of info with lower levels, you also can’t work with as many types of clients. So ultimately, while it’s more work, many business owners find achieving a higher level of payment process worth it.
What is level 3 credit card processing?
One thing that sets level 3 processing apart from other levels is its relationship with B2B payments. Although you’ll find benefits with both level 2 and level 3 payment processing systems, level 3 processing wins out in certain situations. When you incorporate level 3 processing into your payment options, you’ll often end up saving as much on B2B transactions as the merchant. The thing about this option is that it enables you to provide more transaction details for Visa and MasterCard. As such, you satisfy their requirements for a lower base cost.
When all you can provide is the name, charge amount, and date, there’s more risk of the charge being fraudulent. The more information you can provide, the more the card company can trust it. In fact, level 3 was originally created to combat excessive government spending. The level 3 processing option allows you to assuage any concerns the credit card companies may have, thus solidifying your status as a trustworthy merchant.
A merchant must, however, hit a few different requirements in order to achieve level processing privileges. You have to accept corporate cards, purchasing cards, or government spending accounts—otherwise known as GSAs—issued by MasterCard or Visa. The thing about GSAs is that you must achieve level 3 processing in order to accept them. The government has strict billing standards—stricter than that which you’ll find with standard commercial (business) card transactions.
What sets level 2 and level 3 payment processing apart?
Technically speaking, level 2 and level 3 payment processing are quite similar. Level 3 processing actually has all the same qualities as level 2 processing—it just takes security to another level. Notably, level 2 processing offers better interchange rates, but they aren’t quite as good as they would be with level 3 processing. Moreover, level 2 and level 3 card data differs in that level 2 will include factors like:
- Destination address, city, and zip code
- Tax amount and indicator
- Requestor name
- Purchase order number
- VAT ID
Again, Level 3 takes all those factors into account while also figuring in the above components we mentioned that make it extra secure. Level 2 processing isn’t going to take you to the level that level 3 processing will; however, it does open certain doors. Similar to level 3 processing, level 2 processing allows you to handle corporate card payments, B2B transactions, and organizations that require increased security… but not the absolute most sensitive ones.
What does level 1 payment processing cover?
We’ve covered the higher level payment processing options—what about level 1?
Much like level 2 in relation to level 3, level 1 covers factors those levels do. Because it’s the most basic method, it largely covers the transaction date and amount, as well as the merchant information and card number. This recovers less effort from you as the merchant. However, it also means you won’t get the same benefits as you would from level 2 and level 3 interchange rates.
While level 1 may suit business owners operating a smaller storefront or handling smaller transactions, it won’t work for those in need of more security. Additionally, if you really want to address fraud concerns on a personal level, you should opt for level 2 and level 3 payment processing. Though it’s not right for every business owner, level 1 will suit some. It’s just important to approach this issue carefully.
Conclusion:
Ultimately, the type of payment processing level you aim for depends on your business goals. If you aren’t worried about whether to prioritize level 2 or level 3 payment processing, don’t worry—FLO can help you along your journey and offer the advice you need.
Ready to jump in? Give us a call at 803-887-7356 or contact us here. Not only can we answer questions—we might be a part of your journey in the future. Let’s find out!
Digital signage is revolutionizing the way businesses connect with their customers. Likely, you’ve noticed digital signage everywhere. It’s on menu boards in your favorite café and even interactive displays in many retail stores. With its dynamic, eye-catching displays and customizable content options, it’s an invaluable tool for businesses. Digital signage installation services allow your business to stand out. Furthermore, it helps you engage customers. Consequently, digital signs often increase sales.
As a top digital signage software provider, FLO Business Solutions is here for all your signage needs. Call us today at 803-887-7356 or complete this form to boost your business!
This blog shares how a digital signage system will transform your operations and improve your bottom line. We’ll discuss its benefits, the installation process, and how to choose the right service provider.
Top 5 Advantages of Digital Signage for Small Businesses
Digital signage isn’t just a trend. In fact, it’s an investment in the future of your business. Here’s why integrating a digital signage system will have a profound impact.
1. Improving Customer Experience and Engagement
Digital signage creates a memorable and engaging experience for your customers. Visuals are more compelling than static signs or flyers. Notably, they draw attention, guide purchasing decisions, and entertain visitors.
For instance, digital menu screens in restaurants allow many opportunities. For example, it’s a chance to display mouthwatering images of your dishes or highlight seasonal specials. Also, retailers should use displays to promote new arrivals. Finally, small businesses have the chance to showcase customer reviews or personalized messages. These dynamic elements leave a lasting impression and keep customers captivated.
2. Increasing Brand Visibility and Awareness
Your brand is your identity, and digital signage amplifies it. With the ability to display high-resolution visuals and branded messaging, digital signage reinforces your brand presence.
A screen at the entrance of your business will welcome customers with vibrant, branded visuals. Moreover, consistent and strategic use of digital signage positions your business as modern, professional, and customer focused. Furthermore, it helps your brand stand out in a crowded marketplace.
3. Improving Operational Efficiency
Managing printed materials and static signs is costly and time-consuming. Digital signage offers an efficient and eco-friendly alternative. Updates are made in real-time. Thus, there’s no need to reprint menus, posters, or promotional materials.
A central control system allows you to manage multiple screens across locations from one place. For example, retailers can quickly adjust pricing. Or, restaurants can update sold-out menu items. In either of those situations, it only takes a few clicks.
4. Measurable Impact on Sales and Revenue
Digital signage doesn’t just look great, it delivers measurable results. Businesses that implement digital signage often report increased sales. Displays announcing flash sales, discounts, or deals drive impulse purchases. This is especially true when they are strategically placed near checkout counters.
For instance, showcasing a limited time offer on digital menu boards encourages diners to upgrade their order. This directly boosts your average transaction value.
5. Real-Time Content Management
The flexibility of digital signage is unmatched. Whether you want to promote a special event, run a seasonal campaign, or share social media updates, it can all be done in real-time.
Below are a few examples of easy content changes that help your business.
- Quickly update menu items on a digital menu as they change at your restaurant.
- Push promotions at certain times of day at a store.
- Give health tips that correlate to seasons at a spa.
This adaptability ensures your messaging remains relevant and timely.
Understanding the Digital Signage Installation Process
Installing digital signage is more than just hanging a digital screen. It’s a step-by-step process that requires careful planning and expertise.
Key Considerations Before Installation
- Budget: Determine how much you’re willing to invest on digital signage hardware.
- Location: Choose spots that maximize visibility—like entrances or behind checkout counters.
- Content Strategy: Develop content that aligns with your brand and resonates with your target audience.
Step-by-Step Guide to the Installation Process
- Site Assessment: A professional sign installer evaluates your business space to recommend optimal display solutions.
- Hardware Selection: Choose screens, mounts, and control systems tailored to your needs.
- Content Management Setup: Install software that allows you to manage and update your displays.
- Installation: Experts handle the physical setup, ensuring your display is installed securely and operationally optimized.
- Testing & Training: Ensure everything works seamlessly and learn how to update your content.
Overcoming Common Challenges
From wiring issues to software compatibility concerns, digital signage installation involves challenges that require professional expertise. Therefore, hiring an experienced installer at FLO Business Solutions minimizes disruptions and ensures a smooth setup.
Choosing the Right Digital Signage Installation Service
Three Factors to Consider
- Experience: Look for a service provider with a proven track record in installing digital signage systems.
- Customization: Ensure they offer tailored solutions based on your business needs.
- Support Services: Opt for providers that include maintenance and troubleshooting in their packages.
Tips for a Successful Partnership
- Set clear goals for your digital signage.
- Communicate expectations and timelines with the service provider.
- Regularly evaluate performance and seek advice on optimization.
Why Choose FLO Business Solutions for Your Digital Signage Needs?
At FLO Business Solutions, we specialize in providing small businesses with everything they need to succeed. This includes top-notch digital signage installation services. Here’s why we’re the go-to provider for many business owners.
- On-Site Promo Program: Save money and get the best deal on our comprehensive services.
- All-in-One Solutions: FLO is your one-stop shop for business solutions, from POS systems to payroll—and, of course, digital signage.
- Dedicated Support Line: Our customer service team is always ready to assist you.
- Free Full Demos: Understand exactly how our system works before committing.
- Seamless Integration: Our digital signage integrates effortlessly with our POS systems, providing additional functionality and data insights.
Frequently Asked Questions About Digital Signage
Do you still have questions about a digital signage media player and all it entails? Then, keep reading in our FAQ section below. Perhaps, you want to ask your questions to a physical person? Call us at 803-887-7356 and we are happy to answer all your questions!
How much does it cost to install digital signage?
The cost depends on various factors like screen size, software, and installation charges. Contact our team at 803-887-7356 for a customized quote.
Will digital signage make a difference in my bottom line?
Yes! Businesses that use digital signage often see a significant boost in sales. This is because it effectively promotes products and drives customer decision-making.
What should I post on my digital signs?
Here are six examples of what to display:
- Seasonal promotions
- Menu updates or daily specials
- Customer testimonials
- Loyalty program details
- Social media feeds
- Upcoming events or community collaborations
Our team will work closely with you to create a custom content creation plan.
Elevate Your Business with Digital Signage
Digital signage is not just a tool. No, it’s a strategic game-changer for small businesses, retailers, and restaurants. From engaging customers to driving revenue and managing content in real-time, its benefits are hard to ignore.
Are you ready to transform your business with digital signage? Contact FLO Business Solutions today at 803-887-7356 or complete this form for a consultation and free demo. Discover how we will help you make a lasting impression while simplifying your business operations. You’ll see first-hand why we are one of the best digital signage companies.
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