Qualification

In the context of payment processing, "Qualification" refers to the level at which a transaction is categorized for interchange fees. Interchange fees are set by card networks and are part of the cost that merchants pay to process credit and debit card transactions. The qualification level of a transaction determines how much a merchant will be charged in interchange fees for that transaction.

Several factors influence the qualification level, including:

The qualification process is crucial because it impacts the final cost to the merchant for each transaction, affecting overall business profitability.