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Credit Card Industry
Classifications
With the creation of the new CPS
(Customer Payment Service) rules as set by Visa, there
has been some confusion as to the industry
classification of First Resort clients. The following
information is the criteria that is used when
classifying credit card clients.
Lodging/Car Rental
QUALIFIED TRANSACTION CONDITIONS
- Card is present, full magnetic strip is read by
the terminal and signature is obtained.
- Incremental authorizations permitted.
- Final transaction amount must be within 15% of the
total of authorized amount.
- Folio number/Rental Agreement number included in
clearing data.
- Transaction electronically deposited same day or
within 1 day from check-out/car return date.
PARTIALLY-QUALIFIED TRANSACTION CONDITIONS
- One or more of th Qualified conditions not met, OR
- Transaction electronically deposited greater than
1 day, but less than 3 days from authorization date.
NON-QUALIFIED TRANACTION CONDITIONS
- Transaction electronically deposited greater than
3 days from authorization date, OR
- Transaction was deposited via paper draft, OR
- Transaction was forced without an authorization
Retail/Restaurant
QUALIFIED TRANSACTION CONDITIONS
- Card is present, full magnetic stripe is read by
the terminal and signature is obtained.
- One electronic authorization request is made per
transaction.
- Authorized transaction amount must match settled
(deposit) transaction amount, except for restaurants,
where amount may be within 20% of the original
authorized amount.
- Transaction electronically deposited (batch
transmitted) no later than 1 day from authorization
date.
PARTIALLY-QUALIFIED TRANSACTION CONDITIONS
- One or more of the Qualified conditions are not
met, OR
- Transaction electronically deposited (batch
transmitted) greater than 1 day, but less than 3 days
from authorization date.
NON-QUALIFIED TRANSACTION CONDITIONS
- Transaction electronically deposited greater than
3 days from authorization date, OR
- Transaction was deposited via paper draft, OR
- Transaction was forced without an authorization
Direct Marketing/Moto
QUALIFIED TRANSACTION CONDITIONS
- One electronic authorization request per
transaction.
- Authorization request message must include Address
Verification (AVS).
- Final transaction amount must match authorization
amount.
- Purchase date must match shipping date and is
within 7 days of authorization date.
- Deposit data must include customer service
telephone number and order number.
- Transaction electronically deposited within 1 day
after purchase/shipping date.
PARTIALLY-QUALIFIED TRANSACTION CONDITIONS
- One or more of the Qualified conditions are not
met, OR
- Transaction electronically deposited greater tha 1
day, but less than 3 days from the purchase/shipping
date.
NON-QUALIFIED TRANSACTION CONDITIONS
- Transaction electronially deposited 3 or more days
from purchase/shipping date, or
- Transaction was deposited via paper draft, OR
- Transaction was forced without an authorization
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