Merchant Pricing
Merchant pricing is managed using pricing templates which serve as a repository of pricing information for a specific payment method. All customizable fees within a pricing template are subject to a revenue share as detailed in the Commissions guide.
Configure Merchant Pricing
Create pricing template
Partners are prevented from setting the discount rate below their buy-rate. If the discount rate needs to be set below the partner's buy-rate, please email .
To create a new pricing template:
- Navigate to Merchant Management > Pricing Templates
- Click the Create Template button
- Select the payment method type (card-not-present, card-present, bank-to-bank)
- Click the Enter Pricing Template Details button
- Enter the template nickname, fee type, currency, and fee details
- Click the Review Pricing Template button
- After reviewing, click the Submit button
Once the pricing template is created and the status is active, it can be applied to new or existing merchants.
Apply pricing template to merchant
New merchants
The pricing template will need to be supplied before the merchant application is signed and submitted. If the application is created through the Dashboard, the pricing template will need to be selected at application creation. Refer to our Onboarding guide for more details on the merchant onboarding process.
Existing merchants
To update an existing merchant's pricing, email with the desired pricing template to be applied.
Fees for Card Payments
Merchants processing card payments can be set up on a flat-rate or interchange++ model.
Flat-rate model
The flat-rate pricing model involves a fixed discount rate and transaction fee that merchants pay on every transaction.
Interchange++ model
The interchange++ model includes three main components:
- Interchange fees: These are the fees charged by the card-issuing banks and are paid to the card issuers. The rates vary depending on the type and brand of card used (e.g., Visa, MasterCard, etc.), the category of the merchant, and the specifics of the transaction (e.g., in-person, online).
- Pass-through fees: These are fees charged by the card networks (e.g., Visa, MasterCard, etc.). Like interchange fees, they vary by the network.
- Markup: This is the only component of the interchange++ model that is customizable and commissionable. When creating a pricing template, the markup is split out as the discount rate and transaction fee.
Customizable fees
The table below details all fees that can be customized for merchants processing card payments. Depending on the payment method selected when creating a pricing template (card-not-present vs card-present), some fee options may be unavailable.
| FEE TYPE | DESCRIPTION | BILLING TRIGGER |
|---|---|---|
| Processing Fees | ||
| Discount rate | Incurred every time a charge is processed, unless voided. | Payment settles |
| Transaction fee | Incurred every time a charge or refund is initiated. | Payment initiated |
| Dispute Fees | ||
| Retrieval fee | Incurred when a customer's bank requests additional information in order to verify a transaction. | Dispute status = warning_needs_response |
| Chargeback fee | Incurred when a transaction is formally disputed by the customer. | Dispute status = needs_response |
| Reversal fee | Incurred when a dispute is reversed and funds are returned to the merchant. | Dispute status = won |
| Account Fees | ||
| Monthly account fee | Monthly fee for maintaining a merchant card account. | Last day of the month |
| Monthly minimum fee | Fee reflecting the minimum monthly charge a merchant must meet in card fees. | If total monthly fees are below the set minimum |
| Bank account change fee | Incurred when a merchant updates their bank account information. | Bank account information is updated |
| Other Fees | ||
| Card Account Updater fee | Incurred when card information is successfully updated using the Card Account Updater service. | Card information is updated successfully |
| Monthly device fee | Monthly fee for maintaining a terminal. This fee is specific to card-present payments. | Last day of the month |
Fees for Bank-to-Bank Payments
Merchants processing bank-to-bank payments are set up on a flat-fee model, where a fixed transaction fee is applied to each payment.
Customizable fees
The table below details all fees that can be customized for merchants processing bank-to-bank payments.
| FEE TYPE | DESCRIPTION | BILLING TRIGGER |
|---|---|---|
| Transaction fee | Incurred each time a bank-to-bank payment is initiated. | Payment initiated |
| Return fee | Incurred when a bank-to-bank payment is rejected. | ACH status = returned |
| Account Fees | ||
| Monthly account fee | Monthly fee for maintaining a merchant ACH/EFT account. | Last day of the month |
| Monthly minimum fee | Fee reflecting the minimum monthly charge a merchant must meet in bank-to-bank fees. | If total monthly fees are below the set minimum |
Manage Merchant Pricing
Create pricing template
Partners are prevented from setting the discount rate below their buy-rate. If the discount rate needs to be set below the partner's buy-rate, please email .
To create a new pricing template:
- Navigate to Merchant Management > Pricing Templates
- Click the Create Template button
- Select the payment method type (card-not-present, card-present, bank-to-bank)
- Click the Enter Pricing Template Details button
- Enter the template nickname, fee type, currency, and fee details
- Click the Review Pricing Template button
- After reviewing, click the Submit button
Edit pricing template
Only the nickname of a pricing template can be edited. To edit the nickname:
- Navigate to Merchant Management > Pricing Templates
- Select the pricing template you wish to edit
- Click on the Edit icon next to the pricing template nickname
- Update the nickname
- Click on the Checkmark icon to save the new nickname
Archive pricing template
A pricing template can only be archived if it is not actively associated with any merchants. To archive a pricing template:
- Navigate to Merchant Management > Pricing Template
- Select the pricing template you wish to archive
- Click the Archive Pricing Template button
View merchant pricing
To view an existing merchant's pricing:
- Navigate to Merchant Management > Merchants
- Select the respective merchant
- Click on the Processing Details tab
- Refer to the Pricing card
Update merchant pricing
To update an existing merchant's pricing, email with the desired pricing template to be applied.
Pricing States
Pricing templates
| STATUS | DESCRIPTION |
|---|---|
pending | The pricing template is being processed. |
active | The pricing template can be used to onboard new merchants and update pricing for existing merchants. |
archived | The pricing template cannot be used to onboard new merchants or update pricing for existing merchants. |
Merchant pricing
| STATUS | DESCRIPTION |
|---|---|
pending | The merchant's pricing is in the process of being updated. The merchant is not yet being billed according to the shown pricing. |
active | The merchant is actively being billed according to the shown pricing. |