15/04/2022
Each card payment solution uk customer is different. The size of their business, the time they've been trading, and the volume of transactions they process can differ too. We want to ensure we provide all our customers with the best, most premium solution for their business. We have an incredible product, coupled with unrivaled service, so we no longer have to try and win a price war with our competitors.
However, we still want to be able to offer our customers competitive rates and charges that make sense for their business.
What we charge for
What do we mean by rates and fees? It's simply a cost that the customer incurs associated with taking payments on their card machine.
First things first - let's look into what makes up our charges and fees.
Autorisation Fees
Description: Each transaction needs to be authorised with the issuing bank, and this incurs a small fee.
Merchant Service Charge
(card processing fees)
Description: The charge on every credit/debit transaction customer accepts. These can vary depending on the card issuer.
PCI compliance fee
Description: An admin fee for completion of the annual PCI Questionnaire (SAQ). We provide this service for free.
Minimum monthly service charge (MMSC)
Description: A charge levied if the customer's transactions fall below a certain level.
Card machine rental
Description: The monthly rental charge for our Dojo powered card machine.
The Merchant Service Charge (MSC) is the largest of the card processing fees. It's an unavoidable transaction cost that applies to every credit or debit card payment a customer takes. It itself consists of three different fees:
1
Interchange fee (charged by the customer's issuing bank to cover handling costs, fraud and bad debt costs, and the risk involved in approving the payment),
2
Card scheme fee (charged by the card schemes for using their network), and
3
Acquirer / Markup fee (charged by the acquirer).
Interchange fees have a complex pricing structure, which is based on the card brand, regions or jurisdictions, the type of credit or debit card, the type and size of the accepting business, and the type of transaction (e.g. online, in-store, phone order, whether the card is present for the transaction, etc.)