Processing fees play an essential role in managing the costs associated with payment transactions. In Stagepay, these fees are designed to provide transparency and help businesses recover expenses incurred during payment processing. Here's what you need to know:
What Are Processing Fees?
Processing fees (also referred to as transaction fees) are the charges applied to payment transactions. These include:
Stagepay Fee: A fixed 1.25% of the total transaction amount.
Stripe Fees: Variable fees determined by Stripe, based on factors such as the country and the type of card used. For exact details, check your Stripe account or refer to Stripe's regional fee schedule.
Recovering Processing Costs with Surcharges
To offset these costs, Stagepay allows merchants to apply a surcharge—a customizable percentage added to the total invoice amount. This surcharge helps your business recover processing fees, reducing the financial burden on your end.
Important Compliance Information
Before enabling surcharges, be aware that some regions prohibit passing processing fees to customers. Always check and adhere to your local laws and regulations to avoid legal complications.
Key Terms:
Processing Fee/Transaction Fee: Charges applied by Stagepay and Stripe for handling payments.
Surcharge: The additional percentage applied by merchants to recover processing fees.