WHY the Smiley? Lots of people ask us “What in the heck does a SMILEY FACE have to do with Credit Card Processing and why does everything TMC does, have a Smiley attached to it?”- we love the question and here is the simple answer. MOST business owners do not find JOY in working with their credit card processor- in fact, quite the opposite! So when we decided to take care of businesses and their processing needs, we knew we had to be different. The SMILEY FACE sends a certain message: We are glad to see you, hear you, work with you and to be of service. We CARE about you and we will do everything we can to put a smile on your face. Credit card processing is one of the products we provide but Taking Care of People and delivering a SMILE WORTHY experience is who we are and WHY we do what we do.
WHY the Smiley? Lots of people ask us “What in the heck does a SMILEY FACE have to do with Credit Card Processing and why does everything TMC does, have a Smiley attached to it?”- we love the question and here is the simple answer. MOST business owners do not find JOY in working with their credit card processor- in fact, quite the opposite! So when we decided to take care of businesses and their processing needs, we knew we had to be different. The SMILEY FACE sends a certain message: We are glad to see you, hear you, work with you and to be of service. We CARE about you and we will do everything we can to put a smile on your face. Credit card processing is one of the products we provide but Taking Care of People and delivering a SMILE WORTHY experience is who we are and WHY we do what we do.
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Why are there so many different rates on my Processing Statement?

Why are there so many different rates on my Processing Statement?

I recently received a call from a longstanding merchant who asked me this question: What do all of the rates mean on my statement? I LOVED the question- especially coming from such a loyal merchant who admitted to reading very few statements since they hired us 9 1/2 years ago!

So here is your answer my friend:

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Qualified Check Card Rate: This rate is applied to swiped cards that are attached to a checking account. The % is one of the lowest you will pay. Check Cards can be identified because they typically list Debit or Check Card on the face of the card. They can also be used with a PIN number but then Debit processing rates would apply instead of the Qualified Check Card Rate.

Qualified Rate: This rate is slightly higher than the Check Card rate and applies to swiped, standard issue credit cards. These cards look like any other but will not say Debit or Check on them and they are not attached to a checking account.

Mid-Qualified Rate: This rate applies to any key entered Check/Debit card and any key entered standard issue Credit card with an Address Verification match (AVS) or any Rewards card that is swiped or key entered. The rate percentage is slightly higher than the Qualified rate and you cannot tell by looking at the card (in most cases) that a higher rate may apply.

Non-Qualified Rate: This rate applies to any Corporate or International credit card or any key entered Check/Debit or Credit card with NO AVS match. You can also be assessed the Non-Qualified rate if you do not settle your credit card system within 24 hours.

 

Cheri Perry

 

Want to check on your processing rates? Click HERE

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