In this tutorial we are going to set up Merchant Fees with Buy Rate.
We are going to set up the fees with the following parameters:
Transactions will be funded within 48 hours (2 business days after the processing day). Processing fees will be deducted at the time of deposit. This corresponds to the demand-demand Fee Type, which is a standards type of fees.
Merchant will be funded Visa, Master Card, Discover and direct debit through the system while American Express will be funded directly by American Express.
We are going to use blended rate of 2.8% plus 10 cent on all card types for realtime and batch processing. Thus, here residual will be
Buy Rate for all card types will be 2.5% plus 5 cent for realtime and batch processing. Thus, here residual will be 30 basis points and 5 cent.
For direct debit we are going to use the blended rate of 1.5% plus 5 cent.
Buy Rate for direct debit will be 1.2% plus 2 cent. Thus, here residual will be 30 basis points and 3 cent.
Processing Fees are charged on approvals only and per item fees are charged on approvals, declines and voids.
The same fees will be charged for both sale and credit types of transaction.
The merchant will be charged $25 chargeback fee, $10 direct debit return fee, One-time Setup Fee of $500 and Monthly Recurring Service Fee of $19.99. There will be no Buy Rate for these fess. The revenue from them will not be shared.
Log in to the system using your Username and Password and switch to the Merchant Perspective.