What are payment gateway charges?

15 Feb 2022 By PAYCEC

Payment gateways generally charge a mix of fees including processing fee, maintenance fee, international transaction fee or currency exchange fee and chargeback. There is no fee for online platform installation and integration. To learn more about pricing information, you can visit PayCEC payment gateway fees table here.

Transaction fees

These fees are incurred when a merchant client receives an electronic payment from the customer. Transaction fees, normally called processing fees, are a total of a fixed amount of charge which was determined by the payment service provider and a percentage of the total purchase price value. Processing fees vary depending on different service providers.

Example: Transaction fee = € 0.35 + 3.4% (purchase value)

Sometimes, these fees are defined as Transaction Discounting Rates. When a customer's transfer goes via the service, the provider deducts a percentage-based or fixed fee (or both) before disturbing the money to the merchant.

If your company runs a unique type of business with large amounts of payment or pay in bulk, you should consider contacting the service providers to get a customizable quotation.

Account Management fee

Account Management fee is usually called Maintenance and support cost. For technical support and account maintenance, these fees may be charged to merchants annually or monthly, depending on service providers.

Currency exchange fees

Payment gateways will charge an extra for transactions requiring currency conversions (usually paid by users). If currency conversion is needed, an additional fee will be charged for the service.

Chargeback Protection fees

A chargeback fee is a cost charged by acquiring banks to merchants in order to punish them for processing an unauthorized transaction. A credit card chargeback occurs when a customer (cardholder) rejects a credit card charge and wishes to cancel the sale.

Payment gateways are a critical component of today's digital economy. These solutions lower some of the obstacles to online commerce by letting customers safely and securely share their credit card information and other digital credentials. Payment gateways have evolved from simple card readers to sophisticated systems that collect and authenticate PIN numbers, CVV, and other authentication information for merchant transactions.

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