Definitions for "Floor Limit"
The maximum amount of credit available to a customer for a purchase without the need for credit authorization.
A transaction amount limit above which an Acceptor must obtain authorization from the issuer.
A specific dollar limit used to determine which Visa card transactions you must authorize. If your business has a $1,000 floor limit, any transaction more than $1,000 will require authorization. Note: All airline, telephone, and mail order transactions must be authorized, even if the amount is under your floor limit.