Fees

Fees for Card Payments

Flat Rate model

The flat-rate pricing model involves a fixed discount rate and transaction fee that merchants pay on every transaction.

Interchange ++ model

The interchange++ model includes two main components:

• Interchange fees: These are the fees charged by the card-issuing banks and are paid to the card issuers. The rates vary depending on the type and brand of card used (e.g., Visa, MasterCard, etc.), the category of the merchant, and the specifics of the transaction (e.g., in-person, online).
• Pass-through fees: These are fees charged by the card networks (e.g., Visa, MasterCard, etc.). Like interchange fees, they vary by the network.

Several factors impact interchange costs, including:

• Transaction type: Different types of transactions, such as online transactions or contactless payments, may incur different interchange fees.
• Card type: The type of card used for the transaction (e.g., debit or credit) can also impact the interchange fee.
• Merchant category: Merchants are typically categorized based on the type of goods or services they offer. Different categories may have different interchange fees.
  Transaction value: Interchange fees are typically a percentage of the transaction value, so the higher the transaction value, the higher the interchange fee.
• Risk: The level of risk associated with the transaction can also impact the interchange fee. For example, a transaction with a high risk of fraud or chargeback may incur a higher interchange fee.

Fees Related to card payments

Processing Fees

• Discount rate: Incurred every time a charge is processed, unless voided.
• Transaction fee: Incurred every time a charge or refund is initiated.

Dispute Fees

• Retrieval fee: Incurred when a customer's bank requests additional information to verify a transaction.
• Chargeback fee: Incurred when a transaction is formally disputed by the customer.
• Reversal fee: Incurred when a dispute is reversed and funds are returned to the merchant.

Account Fees

• Monthly account fee: Monthly fee for maintaining a merchant card account.
• Monthly minimum fee: Fee reflecting the minimum monthly charge a merchant must meet in card fees.
• Bank account change fee: Incurred when a merchant updates their bank account information.

Other Fee's

• Card account updater fee: Incurred when card information is successfully updated using the Card Account Updater service.
• Monthly terminal fee: Monthly fee for maintaining a terminal reader. This fee is specific to card-present pricing templates.

Fees for Bank-to-Bank Payments

Merchants processing bank-to-bank payments are set up on a flat-fee model, where a fixed transaction fee is applied to each payment.

Fees related to ACH and EFT payments:

Processing Fees:

• Transaction fee: Incurred each time a bank-to-bank payment is initiated.
• Return fee: Incurred when a bank-to-bank payment is rejected.

Account Fees:

• Monthly account fee: Monthly fee for maintaining a merchant ACH/EFT account.
• Monthly minimum fee: Fee reflecting the minimum monthly charge a merchant must meet in bank-to-bank fees.

To view your Pricing, refer to this article: Processing Details