Your statement is a record of all activity for your merchant account during a given month. You may either receive this by mail or electronically. Sometimes terms and abbreviations found on your statement may be unfamiliar to you, so we have prepared a guide that will help.
VISA/MasterCard Quick Reference Guide (QRG) to Fees and Surcharges
The following fees are associated with transactions that failed to qualify at Visa or MasterCard's lowest rates. Additionally, we have listed a few simple tips to limit the number of additional surcharges you may incur:
- Swipe all transactions
- Ensure all terminals are closed-out and balanced within 24 hours
- Obtain authorizations for all transactions
- Use Address Verification Service (AVS) on all hand-entered transactions
Visa QRG
VS KEY ENTER/MOTO/OFF
Cleared Within 48 Hours
No Mag Stripe
Hotel Must User Check-In/Check-Out Option
Auth Code
VS SMKT CHECK
Supermarket Check Sale
Cleared Within 24 Hours
Full Mag Stripe
Auth Code
VS KEY ENTER/CARD PRESENT/AVS
Cleared Within 24 Hours
Mag Stripe Attempt
Card Present
AVS Zip Code Match
Invoice Number if Prompted
Auth Code
VS EXPRESS PAY
Express Payment Merchant
Mag Stripe Attempt Cleared Within 48 Hours
Face-to-Face Sale Under $25.00
VS KEY ENTER/CARD NOT PRESENT/AVS
Cleared Within 24 Hours
No Mag Stripe
AVS Required
Auth Code
VS INTERNATIONAL
Non-US Issued Card
Cleared Within 48 Hours
No Mag Stripe
VS BUS CARD ELEC
Business Card
Signature Card
Cleared Within 48 Hours
Auth Code
VS CPS/ECOMM BASIC
E-Commerce Sale
Cleared Within 24 Hours
No Mag Stripe
Auth Code
AVS Required
Encryption Required
VS BUS CARD STD
Business Card
Signature Card
Cleared Within 48 Hours
Auth Code
VS CPS/ECOMM PREFER
E-Commerce Sale
Cleared Within 24 Hours
No Mag Stripe
Auth Code
3 Domain or SET Encryption
GSA LARGE TICKET
GSA Large Ticket Sale
VS PASS TRANSPORT
Passenger Transport Merchant
Auth Code
Cleared Within 7 Days
VS KEY ENTER/EMERGING MARKET
Emerging Market Merchant
Cleared Within 48 Hours
No Mag Stripe
Auth Code
VS NON AUTH/OVER TIME FRAME
Cleared Within 30 Days
Master Card QRG
MC KEY ENTER/MOTO/OFF
No Mag Stripe
Mail or Telephone Order
Cleared Within 48 Hours
Auth Code
MC BUSINESS CARD II
Business/Corporate/Purchase/Fleet card
No Mag Stripe
Cleared Within 30 Days
MC KEY ENTER/CARD PRESENT
Mag Stripe Attempted
Cardholder Present
Cleared Within 24 Hours
Auth Code
MC INTERNATIONAL
Non-US Issued Card
Cleared Within 30 Days
No Mag Stripe
MC BUSINESS CARD I
Business/Corporate Card Must Enter Sales Tax
Cleared Within 48 Hours
No Mag Stripe
MC LARGE TICKET
Large Ticket Sale
No Mag Stripe
Cleared Within 24 Hours
MC NOT AUTH/OVER TIME FRAME
Cleared Within 30 Days