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Merchant Service

Glossary - Q

Merchant Services Terms Glossary

These terms occur frequently in both the merchant services industry and on our website.

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Glossary Terms

Qualified Rate

A discount rate assesed in a Tiered Based Pricing Method in which the transaction did fall under the one of interchange products designated for the qualified rate tier. In this type of pricing method you are almost always paying well above the interchange cost for all non-qualified transactions.

Quasi-Cash Transactions

Transactions representing a Merchant's sale of items that are directly convertible to cash.

Quick Payment Service (QPS)

Interchange program developed for convenience-oriented business such as fast food restaurants and movie theaters.

QSP

See Quick Payment Service

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