L3 Data
Level 3 Data refers to enhanced transaction-level details captured during a purchase. While traditional payment data typically includes information such as the merchant, amount, and timestamp, L3 Data provides a deeper layer of context, enabling more transparency, more detailed reporting.
What is L3 Data?
L3 Data enhances a transaction with line-item details, such as:
- Item descriptions
- Unit prices
- Quantities
- Tax amount
- Merchant product codes
- Discounts
- Odomoter data
Why is L3 Data valuable?
L3 Data supports several high-value use cases:
- Detailed spend analysis: Businesses can track purchases at an item level, enabling more accurate budgeting and spend categorization.
- Automated reconciliation: With itemized data, matching transactions to receipts, invoices, or orders becomes faster and more accurate.
- Enhanced compliance & auditing: Line-item transparency makes it easier to justify expenses and meet internal or regulatory reporting requirements.
- VAT invoicing: Instead of billing your customer a single lump sum with little explanation, you can attach enriched line-item data to the invoice.
It should be noted that there is no public source of purchase details, yet. Access to the data usually requires bilateral agreements between yourself and the merchant/acquirer where the merchant agrees to share this data.