The most cost-effective way to obtain an authorization is by swiping a customer's card. If you do have to manually enter card data (e.g., in cases where the card is damaged or demagnetized), be sure to follow all of the prompts on the payment terminal. In short, don't key-enter a transaction unless absolutely necessary.
Note that hotel, car rental and passenger transport merchants may require software applications with special terminal prompts in order to receive the best rates. The same may apply if you process a large amount of Commercial Card (Purchasing, Business and Corporate Card) transactions.
Because they are validated in-person with a PIN, debit card transactions carry considerably less risk of fraud and, therefore, may qualify for lower processing rates.
When keying in MOTO or other card-not-present transactions, in an eCommerce setting, be sure to utilize Address Verification Service (AVS) to avoid higher rates.
Additional information may be requested when processing mail order/telephone order (MOTO) or other card-not-present transactions. Carefully follow the prompts on the payment terminal to complete the transaction without incurring a higher rate.
To ensure that you get the best possible rate on your daily transactions, "batch out" your electronic point-of-sale terminal promptly. Train closing and opening staff how to audit transaction totals for errors, and close out/settle daily credit card transactions at the end of each day.
In an effort to manage processing expenses, some merchants establish minimum transaction amounts for credit card purchases. If you are considering such a policy, be sure to follow these rules and requirements:
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