This guide explains how Teya pricing works and how transaction fees are calculated. While specific costs vary depending on your merchant agreement, products, and location, this overview will help you understand the structure of your fees.
How Teya pricing is structured
Teya pricing depends on functionality rather than a single fixed package. Your total cost is made up of three main components:
- Transaction fees: The cost for processing card payments (explained in detail below).
- Membership plans: Applicable fees for specific plan types.
- Hardware and product charges: Costs associated with your terminals or ecommerce products.
Transaction fee models
Your business operates on one of three transaction fee models. This model is determined at the start of your relationship with Teya.
This model is designed to be simple and predictable. You always know the percentage you pay for a specific card group, regardless of the issuing bank.
How it works: You pay one rate for all Visa and Mastercard transactions, and a separate rate for American Express and other card schemes.
Best for: Merchants who value simplicity and want fewer variables in their fees.
This model offers greater transparency by breaking down fees based on the type of card used.
How it works: Different cards have different rates. For example, consumer debit cards may have a lower rate than business cards, international cards, or consumer credit cards.
Best for: Merchants who want detailed pricing and may benefit from lower costs if their customers primarily use consumer debit cards.
Also known as Interchange++, this is the most transparent but variable model. Instead of a fixed percentage, your total fee changes depending on the specific card used for every transaction.
How it works: Your fee is separated into three distinct parts:
- Interchange: Paid to the cardholder’s bank.
- Scheme fees: Paid to card networks (such as Visa or Mastercard).
- Teya’s margin: Paid to Teya for providing the service.
Best for: Larger merchants who want maximum transparency and are comfortable with variable fees.
How a transaction fee is split
Every card payment fee is shared between multiple parties. Even if you see a single percentage charged on your statement, the amount is distributed to the following:
- Issuing bank: The bank that issued your customer’s card.
- Card scheme: The network used, such as Visa, Mastercard, or American Express.
- Teya: The fee for processing the payment, Settlements, and support.
Example To illustrate, if a transaction fee is 1.00% on a £100 sale, the split might look like this:
- ~0.60% goes to the cardholder’s bank (Interchange).
- ~0.10% goes to the card scheme.
- ~0.30% goes to Teya.
Note: The exact split depends on your specific fee model and the card used.
View your fees
You can check your current pricing plan and fees in the Teya Business Portal.
- Log in to the Teya Business Portal using your Teya ID.
- Select Settlements.
- Select Preferences.
- Choose the relevant Store.
Your active pricing plan and transaction fees are shown on this page.
Billing and product charges
Your billing cycle runs on the second business day of each month. Check the sections below to see how fees apply to your specific products.
Card Machines
Monthly rental: The first charge happens on the first business day of every month.
PayOnce: This is a one-time payment that covers your Card Machine rental for a fixed period.
- You are charged upfront.
- There are no ongoing monthly rental fees for the agreed period.
Membership plans
If your plan includes a membership fee:
- First payment: The fee is charged at the moment of onboarding
- Future payments: Ongoing fees are included in your regular monthly billing cycle.
Ecommerce
If your Ecommerce product has a monthly charge, it will appear on your standard monthly bill.
Contract types
Teya offers two main contract types. Check your agreement to confirm which applies to your business.
Flexible contract
- No long-term lock-in.
- You can upgrade, downgrade, or cancel products easily as your business changes.
Fixed contract
- A 12-month commitment agreed upon at the start of your relationship.