Merchant Account Definitions

Qualified Debit

A Qualified Debit transaction on a swiped merchant account is any Debit Card/Check Card/Bank Card that is swiped through your credit card terminal. A Qualified Debit transaction on a Keyed account is any Debit Card/Check Card/Bank Card that is keyed into the terminal with the AVS option entered

Qualified Credit

A Qualified Credit transaction on a swiped merchant account is any regular credit card that is swiped through your credit card terminal. A Qualified Credit transaction on a keyed merchant account is any regular credit card that is keyed through your credit car terminal with the AVS option entered.

Mid Qualified or Partial Qualified

A Mid Qualified or Partial Qualified transaction on a swiped credit card processing account is a credit card that is swiped and is a Rewards card or a credit card that is manually keyed into the terminal. A Mid Qualified or Partial Qualified transaction on a Keyed Merchant accounts is any Rewards card that is keyed into the terminal.

Non Qualified Credit

A Non Qualified credit card transaction is any corporate or business card that is swiped or key entered into the credit card terminal. Also, if you have a transaction that is held in your credit card terminal for more than 48 hours without batching, your transaction will fault to a Non Qualified trasnaction.

Per Transaction Fee

A Per Transaction Fee is a flat one time fee that is charged when a transaction is completed. All types of transactions get this charge weather they are a Sale, Refund, or a Void.

Statement Fee

A Statement fee is a fee that is charged monthly to keep your merchant account file open and active.

AVS

AVS stands for Address Verification Service, which is used when you are keying a credit or debit cord maually into your credit card terminal. Usually this is done to help protect against fraud becasue you cannot physically see the card and check someones ID.

Batch Header Fee

The Batch Header fee is a transction fee that is charged when you close out your terminal for the day. When batching you are sending all of the transactions to your bank account.

Interchange

Interchange is a term that is used in the industry to describe the base costs that Visa/MC/Discover charge to process a credit or debit card. Many merchant service company will upsell off of these base fees.