Applying a Credit Card Processing Fee to Consignors
To apply a credit card processing fee to consignors for credit card transactions, navigate to:
Back Office > Settings > Options > Fees
Important:
When entering the fee, use a numeric value with a decimal to ensure accuracy. For example, entering “3” will be interpreted as “0.3%” instead of the intended “3%.” To apply a 3% fee, enter it as 3.00.
Example Scenario:
-
Item Sale Price: $20.00
-
Tax Rate: 3%
-
Consignor Split: 90%
-
Credit Card Fee: 3% of total (including tax)
In this case, a $0.65 fee is deducted from the consignor’s payout. The consignor receives $18.00, and the fee appears in blue and in parentheses on their account activity screen, indicating a deduction.
Note:
The credit card processing fee applies to all card payments (credit and debit). This fee is distinct from the Merchant Surcharge Program (MSP), which passes the fee to the customer instead of the consignor.
The credit card processing fee applies to all card payments (credit and debit). This fee is distinct from the Merchant Surcharge Program (MSP), which passes the fee to the customer instead of the consignor.