Comment by mnahkies
1 year ago
AFAIK level 3 data is essentially receipt line item level data.
I'd actually find it pretty cool to get access to my own level 3 data for smarter budgeting/analysis (eg: automatic tracking of food stocks, separation of spend on luxury foods from basics etc), but I've not found a way to get access as an individual yet
Merchants seldom submit L3 data with transactions for stupid legacy tech reasons. The card schemes encourage them to do so with bips off scheme fees for doing so, but it’s a minority of transactions I think with even L2 data.
The merchants usually don’t (to the data brokers at least), that is correct. But backdoored firmware on the POS could send it anywhere, no?