With each card transaction, card transaction fees are deducted from the total amount.
Interchange++ pricing model (IC++)
With an IC++ pricing model, merchants have full transparency of the costs associated with their transactions and the costs on the settlement report will be broken down into three separate components: interchange fee, scheme fee, and acquirer fee.
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Interchange fee (IC) For every card transaction, this exchange fee is paid by your bank (acquirer) to the customer’s bank (issuing bank). This is why it's also called the 'issuer fee'. The cost for this fee is 0.20% - 1.80% on each transaction. |
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Scheme fee (+) Card organisations like Visa or Mastercard charge a fee for handling and processing each transaction. This fee may vary depending on the location, security of the transaction, or card type. The cost for this fee is 0.02% - 0.65% on each transaction. |
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Acquirer fee (+) A fixed fee is charged for the provision of a card service. This fee already covers the costs of service processing, and it's the fixed fee that Teya charges. |
The total cost of interchange and scheme fees that merchants pay will fluctuate based on the transaction types processed each month. The price will be lower when processing a higher number of local, debit, and consumer card transactions, and increase when processing a higher number of foreign, credit, and corporate card transactions. This means merchants will never over or underpay for transactions processed and will have a clear understanding of the share of the transaction Teya is taking for our service.