| Term |
Description |
| Application
Fee |
One-time,
nonrefundable fee for processing the merchant account
application. |
| Setup
Fee |
One-time
fee for activating your account. |
| Site
Inspection Fee |
One-time,
nonrefundable fee for obtaining a site inspection
report for your business address. Only required
for accounts processing over $5,000 per month in
credit card volume. |
| Discount
Rate |
Charged
as a percentage of each credit card transaction.
A sale (credit card charge) of $100 would result
in a bank charge of $2.50. There is a $25 monthly
minimum discount charge. |
Transaction Fee
(Auth/Batch Fee) |
A
flat fee applied each time a credit card charge
is authorized or a daily batch of transactions are
submitted (applied only once for the entire batch). |
| AVS
Fee |
A
flat fee charged each time the merchant uses the
Address Verification Service. AVS is an optional
security measure that the merchant may use when
authorizing a transaction. AVS confirms whether
the street address and/or the zip code provided
by the customer matches the information contained
in the account record. |
Non-qualified
Sales Premium |
An
additional percentage fee charged by the Card Association
(Visa, MasterCard, etc.) whenever a transaction
does not meet Association rules. Example: not using
AVS on a Visa transaction will result in this premium
being charged.Only applied when the transaction
does not meet Card Association rules. |
| Chargeback
Fee |
A
flat fee charged whenever a credit card customer
disputes an item on their bill. |
