Standard Merchant Account Fees

Merchant Discount Rate (MDR)

This is a percentage of your transaction that is paid to your processor for using credit card services. This rate varies depending on the size of the transaction, annual volume of transactions that a customer does, business category and card acceptance method (card present vs. card not present transaction).

To provide you with the best possible qualification rate based on your industry segment and certain other factors, please contact us for a custom quote.

Non-Qualified Rate

The Qualified Retail Discount Rate will be charged on all swiped bankcard transactions that are electronically authorized and closed in a daily batch.

All bankcard transactions that are international, corporate or are accepted using a non-qualified transaction type (i.e. you put all card-swiped on your application and then accept a transaction in a non-swiped environment - that transaction is 'non-qualified') will be charged a Non-Qualified Rate which is higher than the Qualified Retail Discount Rate.

What You Won't Pay At VersaPay

Be sure you know what you're paying for your credit & debit card processing! Here are a some fees you won't pay with VersaPay but could be paying elsewhere:

• Batch Fee - none at VersaPay
• Infrastructure Fee - use our efficient, secure and redudant networks free
• Settlement Fee - none at VersaPay
• Push Fee - none at VersaPay, settle to any bank
• Deposit Fee - why should you pay to deposit your own funds?
• Membership Fee - you shouldn't have to pay a fee to process credit cards

Typical Monthly Fees

There are some monthly fees that occur depending on your service type, below are the most common fees charged on a monthly basis:

• Minimums (VISA/MC) - this is the minimum charge attached to using the service, it is assessed based on total fees payable to processor for that given month.
• POS Rental/Lease - the fee charged for renting or leasing a terminal to accept credit and debit card transactions in a card-present environment
• Gateway/e-Terminal - the fee charged for using an online gateway or virtual terminal for accepting credit card transactions in a card-not-present environment
• Transaction fee - the per transaction fee charged for using either Interac debit services or online gateway services for credit cards. VersaPay does not charge a transaction fee on standard credit card transactions.