A credit card processing fee can be applied to the consignor for credit card sales. To
configure this, navigate to Back Office > Settings > Options > Fees.
Note: When entering the fee, ensure you input a numerical value followed by a
decimal and additional digits. If only a single digit is entered, the system will
automatically place the decimal before it. For example, entering "3" will result in
".3," which equates to less than 1% as a credit card fee. To ensure the system
interprets the fee correctly, enter "3.00" for a 3% credit card processing fee.
In this example, the tax rate applied to the sale is 3%.
The consignor received 90% of the sale proceeds. A 3% credit card processing fee
was applied to the total sale amount, including tax. Consequently, a credit card
processing fee of $0.65 was deducted from the consignor's balance. You will see the
consignor credited $18.00, and a credit card processing fee will appear in blue,
enclosed in parentheses, indicating a deduction from their account.
The calculation is as follows:
$20.00 (item retail price) x 0.03 (credit card fee) = $0.65
$20.00 (item retail price) x 0.03 (credit card fee) = $0.65