Credit card fees are charges that businesses incur when processing credit card transactions. These fees are typically paid to banks, credit card companies, and payment processors. Understanding these fees is crucial for any business that accepts credit card payments, as they can significantly impact profitability.
When you get paid using a credit or debit card, you pay credit card fees. The rate of fees you pay depends on the total amount of transactions you process in Talus Pay, as well as the way you process the payment.
When you process a card payment using Scan, dip or swipe, your fees are lower than when you enter the customer's card details manually in the app. That's because the risk of fraud is higher when a card is entered manually.
The current credit card fees are:
2.6% + $0.15 per transaction for Scan, Dip or Swipe
3.75% + $0.20 per transaction for manual entries
Why is the fee different between manual and non-manual card processing?
The risk of fraud is higher when you enter credit card details manually rather than using a payment terminal such as the Talus Pay card reader.
Manually entered transactions are charged a higher fee because there is no proof that the card is present at the time of charge. This makes it harder to win disputes and results in higher costs for everyone.
Offering a lower rate for Scanned, dipped and swiped transactions encourages everyone in our community to accept more secure payments, which helps reduce our costs and pass on the savings to you.
Don’t have a card reader yet? No problem! you can quickly order a new reader directly from the app.
Still need help? we are a click away!
From within the app, go to Settings- Help - Chat with us for more assistance, our support specialists will be happy to help.
Still need assistance?
Please reach out to us via the Talus Pay app chat.
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