What is a Quick Sale Retail (QSR) Merchant Credit Card Transaction?
Have you ever been in a fast food restaurant or a major chain pharmacy that accepted your small dollar purchase against your credit card and did not ask you to sign a receipt? That is a QSR transaction. Quick Sale Retail. That merchant is pre-set up through their merchant services provider (MSP) to accept credit and debit card transactions up to a certain dollar amount and not bother the customer with signing the receipt, in order to move customers along more quickly. You can have this option in your business, too. You do not need to be a national brand retail business.
The benefits to you as the merchant are obvious: the faster a customer leaves your register, the faster you can check out the next customer in line. And the customer appreciates saving their time as well. And you save on receipt paper. Save a tree, think green.
Some merchants are obviously going to be worried that not having a signed credit card transaction receipt may be a problem if a customer decides to dispute their transaction later on.
But the statistics on customers disputing a transaction for a $6 hamburger or ice cream indicate that this in fact rarely happens. First of all, assuming that 99.999% of the time it is indeed the genuine cardholder who made the purchase, it is just not worth their time to ever dispute such a small transaction. Why would they? They know they made the purchase. For the other minuscule fraction of transactions that may be fraudulent, well, seldom will a credit card fraud artist bother with a small transaction, they are going to use the stolen card for big ticket items easily fenced.
So don’t worry. You really have nothing to worry about and a lot to gain. If there was a large risk or any real risk at all to merchants or to the credit card companies, this QSR transaction option would not be available. The credit card companies do not enjoy transaction disputes any more than you, the merchant.
One sort of business I have personally set up with QSR is a drive- through ice cream store. My merchant client appreciated the increased speed of the transactions. He did not need to lean out of the serve window and hand the customer a receipt and pen to sign. He simply handed a receipt to the customer along with their purchase, that customer then drove away and my merchant client was on to handling his next customer!
Yes, the customer does still receive a receipt. The credit card companies do still require that every customer using their credit card does receive a receipt for their credit card transaction.
By the way, QSR does not work for debit card purchases. It would be unnecessary, because your customer using their debit card / check card and entering their PIN into a PIN pad has already “signed” for their purchase. They do not have to sign a receipt anyway.
You will want to consult your current merchant services provider (MSP) and ask whether they support QSR transactions.