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Basis Points

Merchant Glossary: Basis Points

Basis points are the percentage that you are charged on a credit card transaction. One basis point is equal to 1/100th of 1 percent. Thus a rate of 2.33% is equivalent to 233 basis points. Often times in merchant processing you will hear the term basis points in regards to rates. You may hear this in terms of surcharge rates, also called mid qualified and non qualified. For example, the mid qualified surcharge rate may be 75 basis points. This is the same as saying 0.75%.

Other articles terms explained in the Merchant Glossary:

ABA Routing Number

ACH / Automated Clearing House

Acquiring Bank

ATM Debit Card

Authorization

Authorization Code

Authorization Fee

Authorization Only Transaction

Authorization Response

Average Ticket Size

AVS / Address Verification Service

Basis Points

Batch or Batch Processing

Business Type

Debit Card

BBB Accredited Business