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What is a transaction fee?

February 4, 2022accept credit cards chargeback discount rate ecommerce ecommerce software ecommerce solutions ecommerce terms fee merchant account merchant gateway online store payment gateway shopping cart simple ecommerce explination transaction transaction fee

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What is a transaction fee?

14 Answers

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Nea -2 Posted

If we are really discussing a reliable way to make transactions, then I recommend that you use the services of a payment gateway. This will help you protect your money and keep your customers (when it comes to business). I can recommend you to try the payment gateway MaxPay https://maxpay.com/ . These guys show a professional approach to work and protect your money and your business

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The Transaction Fee is the fee a merchant pays every time he or she enters the network. For example, when a bankcard is Swiped or Keyed in, when the merchant Batches Out or when the merchant performs a Return or Void. The Transaction Fees are assessed at the end of the statement period. As with the Discount Rate, the most important factor in determining the merchant’s Transaction Fee is the transaction method the merchant uses. The Transaction Fee is predetermined by the Acquiring Bank or Processor and can not be set by the merchant.

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This amount is charged each time a transaction is submitted for authorization and any time a daily batch is closed. It is in addition to the discount rate.

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Each time a transaction is processed by the bank whether it approves or declines, the bank charges a transaction fee to process the order and fraud scrub it. This fee is passed along to you the merchant on each and every transaction.

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A transaction fee is a small fee charged for each credit card authorization obtained through your merchant account. Some banks will deduct this fee at the time of sale, while most will deduct all transaction fees at the end of each month.