LCC (low cost carrier): Also known as ‘no-frills airlines’, these carriers offer low-fare flights with reduced passenger services. Examples include: EasyJet, Ryanair, AirAsia and Norwegian Air.
Level I data: Standard transaction data such as date, supplier and total purchase amount.
Level II data: Enhanced transaction data which adds to Level I data a customer-defined reference number, such as a purchase order number, and separate sales tax amount. Information about Level II transactions is reported back to the company or institution and can be used to sort, reconcile and report transactions.
Level III data: Line item detail, which is the highest of the three levels of data capture defined by Visa and MasterCard. It applies only to corporate purchasing card transactions, and incorporates descriptions of each component of the purchase, including full VAT details.