Merchant Account Rates
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Processor industry is becoming more competitive. One consequence is more stringent qualified rates guidelines.
Non Qualified Rate Causes
→ Warning: the following issues may result in significant downgrade fees or non-qualified rates!
- Using older versions of payment processing software. Only the latest version may contain the most recent protocol and compliance features required to qualify for the lowest rates.
- Setting the wrong account industry type for some type of transactions. For more info see Industry Type in Business Configuration Dialog Box.
- Settling a batch after 24 hours
- Typed-in cards are treated the same as "card not present". Ultimately, the merchant provider determines the rate, some will grant discounts based on whether AVS, CVV or zip are being sent with the transaction, others will charge a higher rate no matter what.
- Foreign cards are high risk and will be charged non-qualified fees.
- Rewards cards, such as VISA Rewards Cards are charged a higher rate automatically.
- Sending in a tax amount and customer code (invoice number/folio number) are required for commercial cards or those will get higher fees. Version 3.03.14 SP4+ will do this automatically, regardless of what the POS is sending.