What is a floor limit?
A floor limit is the payment amount above which credit or debit card transactions must be authorized. The floor limit can vary and is specified in the merchant processing agreement. Be advised that for merchants, operating in a card-not-present environment, the floor limit is always zero. This means that their transactions always require authorization, regardless of the payment amount.
Related Questions
- Is there a limit to the number of people that can go see any of the live musical performances on the show floor? Or is it who ever wants to go and watch?
- Is there a limit to the amount of square footage of storage below the lowest floor in V zones?
- Is there a floor and ceiling dollar limit to the proposals?
