Brad Son of Dad asked:
Today I spoke with our credit card processor. They suggested that if we wanted to have less non-qualified transactions and more mid or qualified, we should buy new equipment. Right now we have Verifone 330′s, so our current equipment is pretty old. But does the processor’s arguement hold water?
Today I spoke with our credit card processor. They suggested that if we wanted to have less non-qualified transactions and more mid or qualified, we should buy new equipment. Right now we have Verifone 330′s, so our current equipment is pretty old. But does the processor’s arguement hold water?
Thanks,
Brad
http://1mortgagecalculator.info
Brad,
Here is a statement directly from the Visa/MC Interchange Matrix.
“If you utilize terminals, software, services or equipment provided
or configured by any third party, be aware that failure by these systems to correctly and accurately transmit information in the required formats may result
in your transactions not qualifying for the most favorable Interchange levels.”
I own a credit card processing company. I started my company when I realized my other business was being ripped off for 5 years by my credit card processor. As long as your machine is working you should be fine. You should be more concerned if you are currently being charged a tiered rate or a pass through rate based on the current VISA/MC/DISCOVER interchange rate. If you have any questions please feel free to give me a call.toll free 877-832-6576. Below is a direct link to the information you requested
Regards,
Emil