What are Mid and Non-Qualified Rates?
A. These rates are calculated according to the set up of your account, whether you are considered a “swiped” or a “keyed” business, and include an additional charge for certain types of sales. The definitions below explain how a transaction is identified as a Qualified, Mid-Qualified or Non-Qualified transaction based on account type. Standard Swiped Accounts – The quoted Qualified discount rate will be charged on all swiped bankcard transactions that are electronically authorized and closed in a daily batch. All manually keyed bankcard transactions that are closed daily, have AVS, an order number and reply to the Mail/Telephone order prompt with a “Yes” will be charged a “Mid-Qualified Rate”. All bankcard transactions that do not meet these requirements, including business cards, foreign cards and transactions that do not meet Visa/MasterCard requirements for the best interchange program will be charged a “Non-Qualified Rate”. Standard Keyed Accounts – The quoted Qualified discount ra
