Many payment gateways charge both a credit card processing fee and a transaction fee. For example, Stripe charges a 2.9% fee for all major credit card transactions and a $0.30 transaction fee. We have now created a way to automatically determine those fees for each credit card transaction!
To enable this feature head to Account Settings > Checkout Options > Credit Card fees. Your screen should look like this:
image.png7.65 KBFrom there simply enter the credit card fee and transaction fee and hit the enter button to save your changes. Moving forward, all credit card transactions should have two lines- for the credit card fee and the transaction fee.
image.png32.37 KB These fees will also appear on your settlement report, along with any additional fees you may charge.
image.png23.46 KB It is important to note that these fees are only applied to Credit Card transactions. If you switch the payment method to cash, the fees will not be charged.
Many payment gateways charge both a credit card processing fee and a transaction fee. For example, Stripe charges a 2.9% fee for all major credit card transactions and a $0.30 transaction fee. We have now created a way to automatically determine those fees for each credit card transaction!
