Merchant Account Terms & Definitions

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Network. An entire system of communication hardware and software used to authorize and capture credit card transactions.

Non Face-to-Face Transaction (NFFT). Also known as Card Not Present transaction. Is is a type of transaction where the card is not present at the time of the transaction (mail order or telephone order). Credit card data is manually entered into the terminal instead of swiping card through the terminal.

Non-Qualified Transaction Fees (NON-Qual). Bankcard sales transactions that are processed at a higher interchange rate. Typically they do not meet set Visa/MasterCard criteria for that particular merchant.

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