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Hi Guys:
I have an invoice total $ 8,030.00 we are charging 3% $ 240.90 ( adding a line in the invoice ) . Total invoice $ 8,270.90 to charge the client and to process in the credit card machine.
The merchant is charging us 3% of the total processed $ 8,270.90 x 3% = 248.12 = $ 8,519.02. Merchant is charging it as a whole transaction. They can't exclude the 3% $ 240.90.
First merchant is supposed to charge on $ 8,030.00 but the merchant is charging also on (3%) $ 248.12. Fees over fees.
Question:
Merchant will have to charge instead of 3% it will charge 2.9126% ( or lower ) = 8,270.9 x2.9126% = 240.90
I have an invoice total $ 8,030.00 we are charging 3% $ 240.90 ( adding a line in the invoice ) . Total invoice $ 8,270.90 to charge the client and to process in the credit card machine.
The merchant is charging us 3% of the total processed $ 8,270.90 x 3% = 248.12 = $ 8,519.02. Merchant is charging it as a whole transaction. They can't exclude the 3% $ 240.90.
First merchant is supposed to charge on $ 8,030.00 but the merchant is charging also on (3%) $ 248.12. Fees over fees.
Question:
Merchant will have to charge instead of 3% it will charge 2.9126% ( or lower ) = 8,270.9 x2.9126% = 240.90