Do You Need The Support Of Credit Card Convenience Fees?
Credit card convenience fees are a special type of fees which allow passing processing costs to the card holder. In the other words in this case merchants do not pay for payment processing and the money is charged from the customer. What are the examples of businesses which apply these fees? The great example is a business which plays the role of the “mediator”. It means that it does not sell anything or provide services on its own but it helps other businesses or individuals to find clients.
In order to make you payment processing system competitive you need to add this advanced feature to your functionality. Generally there are two approaches which are used to handle convenience fees. They can be processed either as a part of the original transaction or as a separate transaction. Very often the second option is considered to be a preferable one while it does not require two different transactions. What is more, the full amount is charged at ones and you will not have problems in the situation when there are not enough funds to pay for transaction processing fees.
So when you choose payment processing software first decide whether you need this functionality and then look for a payment system which supports it. There is one platform which can be recommended — UniPay Payment Management Platform. UniPay Gateway is a payment processing solution which offers its clients not only standard functionality but also a great amount of other advanced feature. (Visit the web site to learn more).
Those who are interested in the additional explanation of credit card convenience fees concept can visit Paylosophy Blog.