To qualify for the below restaurant rates, merchants must be classified as a restaurant or quick-service merchant (MCC of 5812 or 5814). Below are the basic qualifications, plus you’ll see each type of card that’s eligible for restaurant rates, along with the associated potential downgrade:
- Be classified as Restaurant (MCC 5812) or Quick-serve Fast Food (MCC 5814)
- Magnetic stripe, contactless, or chip data read, obtain customer’s signature.
- Authorize and settle within 1 day.
- Obtain and pass 1 valid electronic authorization.
What are the rates?
See the below cards types which can qualify for CPS Restaurant rates
Regulated Debit - 0.05% + $0.22
Downgrade: This card type does not downgrade.
Only restaurants and quick-serve fast food are eligible. Retail rates have a lower rate structure anyways, read more here.