Ezypay's Fees
Types of Fees
There are 3 types of fees that Ezypay has: a Load Fee, a Transaction Fee and a Failed Payment Fee. Each of them can be configured to be paid by the customer or the merchant. The fee configuration should be discussed with Ezypay's team before a merchant is set up.
| Fee | Application |
|---|---|
| Load Fee | This is applied on a new customer registering with Ezypay. This will be applied on the first successful debit only. |
| Transaction Fee | This is applied on every debit attempts through Ezypay, apply to both successful and failed transaction. |
| Failed Payment Fee | This is to every failed debit attempts through Ezypay. |
How fees are Charged and Collected
Using an example of $100 gym membership fees, a $2 transaction fee and $1 load fee, below shows how customer will be charged if the fees are merchant paid compared with customer paid.
| All Merchant paid | All Customer paid | Transaction fee is customer paid and load fee is merchant paid |
|---|---|---|
| Invoice with $100 is created by integrators with Ezypay. | Invoice with $100 is created by integrators with Ezypay. | Invoice with $100 is created by integrators with Ezypay. |
| Debited customer $100 from their account. | Debited customer $103 from their account. with extra $2 as transaction fee and $1 as load fee. | Debited customer $102 from their account with extra $2 as transaction fee. |
| During settlement $2 is deducted by Ezypay as transaction fee and $1 as load fee. Only $97 is credited to merchant. With this option, what customer paid is consistent with their membership fee. | $100 is credited to merchant during settlement. With this option, what customer paid is more than their membership fee | During settlement $1 is deducted by Ezypay as load fee. Only $99 is credited to merchant. Customer is also paying more than their membership fee for this option. |
From above example, we can see there is an additional charge to customer if any of the fees are customer paid. Therefore, it is important to display customer paid fees during signing up to ensure they are well aware on the extra fees.
Fees Stacking
Ezypay fees are charged on every transaction attempts, regardless it is success or fail. As such, the fees will stack if there are multiple attempts on a single invoice.
Showing how fees stack for a single invoice
Updated about 1 month ago