Online Payment Gateway Rates and Fees

There are various types of fees that a merchant has, some are periodic and others are per item or per percentage. Fees are set by the merchant to its account provided, but majority are passed through the merchant account as per set percentage by the issuing bank. Rate that is being issued by the bank are known as interchange fees which set Visa, Mastercard and discover. Interchange fees is depending on the type of card and transaction circumstances. If a card is manually keyed will be a different category then a card swipe at the merchant machine.

Discount Rate:

Discount rates are a total of various categories that includes, dues on merchant, fees, assessment and online network charge as the merchant is accepting the credit, debit card. Banks change a separated whole changes to the merchant as interchange fees.

Authorization Fee:

Authorization fees are a fee that is charge on every transaction that is sent to bank irrespective of payment authorized or not. The authorization fee is not similar to transactions fees.

Transaction Fee:

Transaction fee is a fee that is charge against the every accepted item. If any item which not being authorized by the bank, the transaction fee will not be levied.

Statement Fee:

Statement fee is the monthly fee that is being levied to merchant on every monthly statement. This has the details of every transaction done in the month with date and the statement feed charged on it.

Batch Fee:

Batch fee is the fee which levied on the merchant at the time of settlement of its terminal. Terminal settling is also called batching; batching is when a merchant sent their daily total transaction to bank for payment settling.

Maintenance Fee:

Maintenance fee also known as customer fee, some merchant charge the customer fee to customer at 2.5% rate. If merchant don’t charge the maintenance fee to the customer then the merchant have to pay the maintenance fee to the bank from their pocket.

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