question

kirank avatar image
kirank asked Richelle Herrli answered

Surcharge/Additional fees delivered to merchant?

Since clover has enabled surcharges and additional add on fees for transactions, I'm trying to understand how the fees flows.

1. For surcharges (usually 3.5 to 4% of transaction amount), does this amount get deposited to merchant with their batches or does it held back at the processor?

For example. item = $100, surcharge calculated by Clover side is $4. So $104 is collected from customer's card. Is the batch going to deposit $100 or $104 to merchant. If its doing $104 then is $4 withdrawn from the merchant's bank account?



Payments
10 |2000
Toggle Comment visibility. Current Visibility: Viewable by all users

Up to 2 attachments (including images) can be used with a maximum of 512.0 KiB each and 1.0 MiB total.

1 Answer

·
Richelle Herrli avatar image
Richelle Herrli answered

When a payment is processed, the whole amount is settled into the merchant's account. Later on, (on a monthly basis for most merchants), the processing fees from are automatically withdrawn from the merchant's bank account.

10 |2000
Toggle Comment visibility. Current Visibility: Viewable by all users

Up to 2 attachments (including images) can be used with a maximum of 512.0 KiB each and 1.0 MiB total.

Write an Answer

Hint: Notify or tag a user in this post by typing @username.

Up to 2 attachments (including images) can be used with a maximum of 512.0 KiB each and 1.0 MiB total.

Welcome to the
Clover Developer Community