Merchant Services Glossary - Letter Q

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Qualification Level

Each transaction is assigned a Qualification Level at Interchange. The level assigned depends on how well the transaction met the requirements for the merchant’s industry. For example, in order for a retail merchant’s transaction to be assigned the qualification level, the card must be swiped, the terminal must be settled each day and all other criteria for that level must be met.

Qualified Rate

A rate. Indicates the transaction meets all requirement to qualify for the best rate.

Questionable Merchant

A merchant location at which an excessive number of confirmed fraud transactions have occurred within a specified period.

Quick Payment Service (QPS)

MasterCard program targeting convenience-oriented merchants such as fast food chains and movie theaters.

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