Merchant Services Terms - N
These terms occur frequently in both the merchant services industry and on our website.
When the dollar amount of the Credit (Refund) Transaction Receipts exceeds the dollar amount of the Transaction Receipts submitted for processing.
Non Qualified Rate
A discount rate assesed in a Tiered Based Pricing Method where the transaction did not fall under the one of interchange products designated for the qualified rate tier. In this type of pricing method you are almost always paying well above the interchange cost for all non-qualified transactions.
Non Qualified Surcharge
A surcharge applied in additional to the qualified base discount rate. Beware of this type of pricing method you are almost always paying well above the interchange cost for all surcharged transactions.