What are the payment processing fees in ShopView?
ShopView, powered by Stripe, offers a range of payment processing options for customer transactions. Below is a detailed breakdown of the associated fees:
Overview of Payment Processing Fees
ShopView applies specific fees based on the payment method used by customers. These fees include charges for credit/debit card transactions, ACH/bank transfers, and regional variations. Additionally, merchants have the option to configure how these fees are handled at checkout.
Credit Card Fees
For credit and debit card transactions, including payments made via ShopPay, the processing fee is:
3.3% of the transaction amount
$0.30 flat fee per transaction
This fee structure applies universally to all credit card payments processed through ShopView.
ACH/Bank Transfer Fees
For ACH or bank transfer payments (available in the US only), the processing fee is:
1.25% of the transaction amount
Capped at $20 per transaction
ACH payments are not currently available in Canada.
Regional Variations
United States: Both credit/debit card and ACH/bank transfer payments are supported.
Canada: Only credit/debit card payments are supported, with the same fee structure of 3.3% + $0.30 CAD per transaction. ACH payments are not available.
Configurable Fee Options
Merchants using ShopView can configure how payment processing fees are handled at checkout. Options include:
Passing the convenience fee to customers: Displayed as a separate line item at checkout.
Absorbing the fee on the shop side: The merchant covers the processing fee without passing it to the customer.
These settings can be adjusted in the Customer Portal Payment Settings.
By understanding these payment processing fees and configuration options, merchants can better manage their billing and charges while providing a seamless payment experience for their customers.