What it is
Mid-qualified is the middle bucket in tiered pricing. Transactions land here when they don't meet the processor's criteria for the lowest rate.
What it costs you
Mid-qualified rates are often 0.5% to 1% higher than qualified, and the processor decides which sales land here.
What to do about it
- Ask for the written criteria
- Measure how much volume lands in this tier
- Consider switching to interchange-plus