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.
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 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.
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.
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.
If you need further assistance or answer, please don't hesitate to contact us.
We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.
Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.
PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.