My Merchant Account Blog

Mid-Qualified Rate

Wednesday, October 12, 2011

This rate is charged for card transactions that don’t quite make the criteria for the qualified rate. The mid-qualified rate would be charged for a card which has to be manually keyed in (using an address verification service, or AVS) instead of being swiped through the card reader. In this instance, the card number, expiration date, address, zip code and CVV code must all match. If they don’t match, the card may be downgraded to the "non-qualified" rate.

Business cards and rewards cards fall within the mid-qualified group. Some providers have this "mid-qual" rate in their structure to help increase their income. Merchants usually don’t even know they are being charged the rate until they review their statement.

Also known as mid-qual or mid-qual rate.

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