Glossary of Terms: N

An entire system of communication hardware and software used to transfer electronic information during the authorization and settlement process.

Non Face-to-face Transaction
Any transaction in which the card is not presented, such as a phone, mail or Internet purchase.

Non-qualified Rate
The rate assigned to a transaction which has failed to meet many or all of the qualification criteria set forth by the issuer or association. This is the highest rate category and thus the most costly.