Fee | Description |
Application Fee (One Time) | Fee charged to submit and process a merchant services application, or to cover the cost of a 3rd party gateway or software product, such as Authorize.net. |
Minimum Processing Fee (Monthly) | Minimum amount the processor must make, dependent on the discount rate |
Early Cancellation Fee | One-time charge for cancelling a merchant account when in breach of contract |
DDA Rejects (Per Item) | Charge which is only assessed when a withdrawal is rejected due to insufficient funds in the merchant’s bank account |
Statement Fee (Monthly) | Charge for preparing and sending the merchant statement, also known as the “Service Fee.” |
Data Breach Fee or Service Protection Program | Monthly fee that includes $50k in Breach Protection |
Chargeback Fee | Per occurrence fee for every chargeback incurred by the merchant |
Retrieval Fee | Per occurrence fee for every retrieval inquiry request issued by the card companies. Differs from Chargeback fee in that there is no action being taken, simply an inquiry into the transaction |
Annual Membership Fee | Defunct fee that is no longer used. Only used when converting old accounts and copied over from previous pricing |
Equipment Rental Fee (Monthly) | Monthly fee to cover the cost of renting hardware or other equipment |
Regulatory Product Fee (Monthly) | Monthly fee assessed to cover the cost of producing the 1099 forms required by the IRS for every merchant. |
PCI Non-Compliance Fee (Monthly) | Monthly fee assessed to the merchant if they do not validate PCI compliance within 90 days of activation |
PCI Annual Fee | Annual fee to cover the costs of the processor to maintain full PCI compliance. |
Wireless Fee (Monthly) | Monthly fee to cover GPRS terminal cost for cellular service. |
Wireless Activation | One-time activation fee to cover GPRS terminal setup cost and SIM card. |
Disc P/I | Discount charged per item for each transaction. This is typically seen for merchants who have a transaction fee assessed to the account or in EBT/PIN Debit sales |