Looking at my last couple of credit card statements , and I noticed that several transactions hve now got QPS after the store Name , anyone know what QPS is? eg SAINSBURYS SMKT QPS SCUNTHORPE GBR WM MORRISON PLC QPS SCUNTHORPE GBR MCDONALDS REST QPS SCUNTHORPE GBR
Yes, I spotted the first "QPS" on my Egg card. Was for a small amount - about £4.Probably this:-OverviewThe Quick Payment Service (QPS) program is a program developed by MasterCard for facilitating payment acceptance in industry segments where the point of service is traditionally cash-based and speed is crucial to the sale. Acquirers benefit from QPS by offering merchants faster checkout lines while introducing MasterCard® card acceptance. QPS transactions occur in a face-to-face environment in which card account data is read electronically from the card. MasterCard has waived certain operating rules and regulations for participants, which allows QPS merchants to quickly process transactions under particular currency amounts without having to obtain the cardholder’s signature and providing a receipt only upon cardholder request.http://www.mastercard.com/us/merchant/solutions/quick_pay_se...It seems to relate to not having to get a signature for small amounts. I believe that chip/n/pin is still rare in the USA, so signature is often used.In my case I did use the PIN, so nothing seemed different.RegardsMick
Have a look at: http://www.mastercard.com/ca/merchant/en/solutions/qps.html
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