Credit Card Processing Fee List Option 1 Paynet Systems Click Here for a printer friendly version
Consumer Advisory: Spend a few minutes reading this page and gain the knowledge required to obtain the best deal possible!
We Publish all of our Rates on Our Website   Many companies do not disclose all of their charges on their websites as we do. Among the hidden charges found at many credit card processing companies monthly minimums, annual "memberships", batch processing fees, downgrade surcharges (i.e., non-qualified and mid-qualified), and cancellation fees are common. At Paynet you won't find any hidden charges because there aren't any. Always Look for Hidden Fees When Choosing a Credit Card  Processor Review the following contractual components when you are deciding which credit card processor to work with. If a provider claims to have no fees associated with any of the following, be certain to review their contract carefully and/or ask for a written disclosure statement as they may have hidden fees. As a Paynet client, you will never find a hidden fee as we don't have them. You will always know our fees up front.
Monthly Minimum Fee:                                                     As a Paynet client your cost - zero
As a Paynet Systems client you do not have a monthly minimum with Option (1). Many Merchant Service Providers have a $25 minimum monthly quota for Visa/MasterCard fees. If your minimum quota is not met within the month, the merchant account provider will make up the difference with additional fees. For example, if your discount rate is 2% and you processed $1,000 for the month, then the total of discount fees would be $20 (0.02% X $1,000 = $20.). If your monthly minimum was $25, you would then be short $5 for your monthly minimum. In this case, you would be charged the $5 difference in order to meet the $25 minimum. This will not happen as a Paynet client because we do not have monthly minimums (with Option 1). Paynet clients on Option (1) have no monthly minimum fees.
Cancellation Fee:                                                         As a Paynet client your cost - zero
Cancellation fees are commonly assessed when service is cancelled prior to the binding term found within the merchant agreement. Many credit card processors have a 3-year term found within their contract. This means if after a year you find a better deal you're stuck! Paynet System's is so confident you'll remain a satisfied customer; you are free to cancel your Credit Card Processing Agreement, any time, penalty free.
Annual Fees:                                                                          As a Paynet client your cost - zero
Credit card processors who offer "free" equipment often charge an annual fee to cover the expense of giving you something for "free". With other providers you might pay an annual fee up to $125 per year. Paynet does not charge an annual fee. At Paynet all fees are published and clear. If we use the term "free" - we mean it.
Batch Fee:                                                                    As a Paynet client your cost - zero
The "Batch Fee" occurs as a result of the accumulation of captured card transactions awaiting settlement in the merchant's terminal or POS (point of sale unit). Many processors charge a daily batch fee of $0.25 or more which can add up to $7.50 or more per month in additional charges. This fee is commonly assessed by companies that offer "free equipment" and those with seemingly low monthly statement fees. Example: At the end of the business day, a POS credit card machine submits the sale totals for the day in the form of a batch file. If a processor charges batch fees, you can be assessed up to $7.50 or more per week in additional charges. ($0.25 batch fee x 30 days/month= $7.50 additional fees). Paynet does not charge a Batch Fee.
Down Grade Surcharges:                                           Your cost- 0.65% to 1.85% + $.09 cents
This surcharge applies to credit card transactions that Visa and MasterCard assess at a higher rate. ("Down Grade Surcharges" are also referred to as Non-Qualified and Mid-Qualified Surcharges.) For instance, with a Business/Corporate Card, this surcharge might be assessed in conjunction with other downgrades, for reasons such as failure to perform Address Verification (AVS) for key-in sales, and failure to transmit a batch file to clear a point-of-sale device within the allotted time period. If your company accepts credit cards you need to understand this fee. Some business categories are affected by this surcharge more than others (i.e., Business to Business (B2B), or businesses that accept International Cards). If you have questions or concerns about this surcharge or any others please ask your Paynet Systems representative. If you have a question, we’ll have a clear and thorough answer for you.
Discount Rate:
Your cost-	1.74% for Retail (swiped transactions)
Your cost-	2.30% for Internet - Mail/Phone Order businesses (non swipe)
The amount charged to a merchant for processing daily credit card transactions.
Retail/Swipe Discount Rate Example:
$25 sale x 1.74% = $0.43 + $0.24 per transaction = $0.67
$50 sale x 1.74% = $0.87 + $0.24 per transaction = $1.11
Internet/Mail-Phone Order Discount Rate Example:
$25 sale X 2.30% = $0.57 + $0.25 per transaction = $0.82 total fee
$50 sale X 2.30% = $1.15 + $0.25 per transaction = $1.40 total fee
Transaction Fee:
Your cost-	0.24 cents for Retail (swiped transactions)
Your cost-	0.25 cents for Internet - Mail/Phone Order businesses (non swipe)
This fee is charged by a merchant account provider for each credit card transaction completed.
Programming fee:                                                         As a Paynet client your cost - zero
Most credit card processing companies charge a fee for programming existing point-of-sale (POS) systems when you switch from one company to another.  As a Paynet customer there is no charge to switch from your present provider to Paynet. We want you as our client, and we want you happy. We don’t charge you a fee to become our client, we’re glad to welcome and serve you!
Application Fees:                                                          As a Paynet client your cost - zero
Many companies charge an "application fee" when applying for credit card processing capabilities.   Many credit card processing companies will charge you an "Application fee" when you apply for the privilege, as they see it, of being their client. At Paynet we want you to be our client, we will never charge you to be our client!
Statement Fee:                                                               As a Paynet client your cost - $10
As a Paynet client you will receive the finest support available in the credit card processing industry. This includes unlimited 24-hour, 7 days a week customer support. You will also receive a mailed monthly statement with an itemized list of daily Visa/MasterCard totals, as well as monthly totals of the credit cards accepted. Total amount of fees incurred during the month are also included in the statement.  We will gladly provide a detailed activity summary emailed to you daily, weekly, or monthly. All of these services are included with your $10 statement fee.   Superior credit card processing, is not just about the correct and timely handling of transactions, it is also about accurate and thorough reporting of account activity. As a Paynet client, you will always have accurate and timely reports available to you by mail, email or both.  As a Paynet client you will always know the activity of your accounts and every charge that you've incurred. Nobody likes surprises when it comes to credit card processing billing or reporting. With Paynet you will always know where you and your accounts stand.
Chargeback Fee:                                                                    As a Paynet client your cost - $15
This fee is assessed when a credit card transaction is billed back to the merchant after the sale has been settled. Chargebacks are initiated by the card issuer on behalf of the cardholder.  Typical cardholder disputes involve product delivery delays or failure, or customer dissatisfaction. Cardholders are urged to obtain satisfaction from the merchant before disputing the bill with the credit card issuer.
Voice Authorization Fee:                                 As a Paynet client your cost - $0.50 per call
This fee is charged only if you use our voice-automated system to call in a credit card sale. You might need to use the voice automated system if, for instance, you need to accept credit cards off-site and do not have access to your point-of-sale device. If this situation occurs you can call our toll-free 800 telephone number to process the credit card transaction. This fee is never assessed when the point-of-sale device is used for the transaction.