Net Transaction Billing is a streamlined process where transaction fees are deducted directly from your payments as they are processed. This means you’ll receive the net amount of each transaction in your account, instead of paying fees separately at the end of the month.
How It Works
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Payment Processing:
When a guest makes a payment, the processing fee is automatically deducted from the total amount. The net amount is then deposited into your account.
Example: For a $100 payment with a 2.90% fee, $97.10 will be deposited into your bank account while $2.90 is collected as the fee. -
Refunds:
If you issue a refund, only the amount deposited into your account is recaptured, and the associated fee from the original transaction is billed separately during your monthly billing statement. This ensures the guest receives their full refund amount, maintaining a positive customer experience. -
Monthly Billing for Other Fees:
Non-transactional fees such as disbursement Fees will continue to be billed monthly. -
Deposit emails:
Will outline all payments included in the settlement, along with the fees deducted.
Benefits of Net Transaction Billing
- Real-time deduction of fees ensures better cash flow visibility.
- Simplified reconciliation as fees are aligned with individual transactions.
For more details, visit our Net Settlement Report article.