If you accept payments over the phone, through the mail, or online, you know there are additional costs to support that payment as compared to a traditional card-present transaction. Expanded payment options may be great for customers, but it may not always be great for your bottom line. Whether it is operational costs, or just the higher cost of card-not-present acceptance, alternative payment options can be costly. Offset those costs through a convenience fee where the customer helps to cover the cost of the payment option they want to use.
Our program supports a fixed rate model that will charge the same fee on every transaction. Regardless of the payment type, if a customer pays in a card-not-present environment, you can use a convenience fee to help offset your costs of supporting that payment platform. Offering convenience can be convenient for you too. Adding this to your account is simple, easy to do, and enables you to offset the cost of accepting non face-to-face payments.
Costs are a big part of managing any budget, and when working through budgets defined by grants, government funding, or other non-profit bodies, controlling costs can make a difference. Service fees are a way for certain identified types of merchants to control costs associated with accepting card payments.
Service fees can be leveraged on all payments, not just credit cards. Plus, service fees can be implemented in card-present and card-not-present environments, not just one or the other. Service fees are charged as a separate transaction apart from the original charge. Service fees can be a flat fee or a percentage of the transaction — depending on the payment method. Unlike our other programs, there are also no set caps or rules around the service fee amount. The fee however must be reasonable as compared to the costs for processing the transaction. That gives you flexibility to leverage a fee that matches your organization’s cost model.
We want to hear from you. If you are interested in setting up a new merchant account with us, please contact us through the form below and we'll call between the hours of 9:00 AM and 7:00 PM EST, Monday-Friday. If you require assistance with an existing account, please call our customer service line 24/7/365.