If you accept credit or debit card payments, you may eventually run into a collection of similar-looking terms: MID, TID, MCC, gateway ID, merchant account number, authorization code, and transaction ID. These identifiers appear on processing statements, POS configuration screens, settlement reports, gateway dashboards, support tickets, and onboarding documents, but...
Payment Authorization vs Settlement Explained
A card transaction can display “approved” within seconds, yet the merchant may not receive the money until much later. That gap is one of the most important concepts for anyone who accepts credit cards or debit cards to understand. The core difference in payment authorization vs settlement is straightforward: authorization...
What Are Non-Qualified Transactions?
Non-qualified transactions are one of the most confusing parts of credit card processing fees, especially for merchants on tiered pricing. A business owner may look at a merchant statement, see a higher non-qualified rate, and wonder whether something went wrong with the sale. In many cases, nothing was wrong with...