Paystand can calculate fund amounts to add to base transactions to offset transaction fees, though this requires working with accounting teams to ensure the exceptional ledgering.
Convenience fees require the Transaction Fees/Monetization Module.
Convenience fees will be calculated separately from the final transaction fee.
When activated, fee management applies to all payments being captured. Workflows and conditionals to further customize if and when fee management is applied (e.g., threshold of Invoice amount, for specific Customers) require separate scoping and professional services.
This feature is optional and can be activated and deactivated at any time.
-
Convenience Fees are set as a percentage (or a flat rate), calculated against the amount set in an Invoice or Sales Order.
-
Convenience Fees can be configured to any payment instrument option Paystand supports (our bank transfer network, legacy ACH, and Cards).
-
Convenience Fees, when configured, will apply to their selected payment methods when used in Autopay and in SuiteCommerce Advanced/Standard, and MyAccount.
-
In the payment interface, there are tools for (de)activating convenience fees on a case-by-case basis.
-
Staff using the Virtual Terminal can also (de)activate Convenience Fees as needed.
-
-
The payer is shown a breakdown, in the payment experience, of the amount being added and how it impacts their total payment amount.
-
In the ERP, Paystand will record the amount charged, the convenience fee added, and the amount applied
What happens when a payment is made and the Client is absorbing the fees?
