In standard pricing, the financial institution in your merchant agreement sets tiers to determine what rate you pay. Qualification for each tier is dependent on:
- How the sale is entered
- How quickly the transaction is settled
- The type of card
A Qualified rate is the best available rate and applies to transactions that meet all of the following conditions:
- The card is a standard consumer card that does not earn rewards for the cardholder.
- Transaction date is within 7 days of the authorization date.
- Batch date is within 2 days of the transaction date.
- Cardholder billing information for the transaction matches what is on file at the card-issuing bank.
- Transaction data includes an invoice number.
- Authorization amount and settlement amount of the transaction match exactly.
**Note: The conditions listed above are meant to be a guideline, but we make no guarantee on the actual qualification of your transactions.