Be aware of Payment Gateway charges while doing the Payment Gateway transactions through different mode of payment online…
Payment Gateway Charges are affordable always and they give you an easier way of transaction, and every gateway Application that allows you to accept or send money does have minimal charges on mode of transaction. Setting up the Payment Gateway is very easy, and it doesn’t not even apply any charges for the retailer.
Using any credit card or debit card or any other mode of payment which might let you pay some processing charges. The charges will not be more than 2 percent of your total amount sent. This pricing on your truncation does also give your security and better customer service to all your transactions. It make customers rely on online money transfer.
Payment Gateway Charges
| Mode of Payment | Charges |
|---|---|
| UPI transaction | No Charges |
| Credit Card Payment | Upto 2% of total payment |
| Debit card payment | Upto 0.99% of total payment |
| Code scan payment | No charges |
Payment Gateway Charges
There are numerous websites and mobile applications which give customers a platform to receive or send money. Thus every platform that provides service to customer’s does apply charges on every transaction.
UPI Transaction
If a customer has been into UPI transactions through the Payment Gateway. Then he won’t charge any amount on their transaction. If the amount is being paid to a merchant or to any other fellow UPI enabled number. There may no charges applied on the transaction as the money transfer will happen between two accounts directly.
Credit Card Payment
If the customer is using their credit card to make payment to the merchant through their online website or by their physical swiping machine. A minimal charge of up to 2 percent will be applicable on the total transaction amount. The amount will upon the merchant if they swipe their card on a physical machine. Or the amount will debited from the customer account if using the online website for payment.
Debit Card Payment Gateway charges
There are very few merchants’ devices which charge your 0.99 percent processing fees on your transaction. The charges will be below 1 percent if a debit card is used for any transaction through a physical swiping machine or through any online website. In turn, every transaction customer process with a debit card will get their reward points. It can seen from their Bank account page.
Code Scan Payment
In recent days, we have seen code scanners available in every merchant shop. This mode of Payment Gateway directly linked with our account which does use VPA linked with your bank account. Thus having any transaction using code scan, will not have any Payment Gateway Charges applied on the transaction. If at all you used any credit account for Code scan payment, the transaction will stop. It not processed for payment
Why Do Payment Gateway Charges Are Applied?
Payment Gateway is a secure way of transaction which moves the amount from customer to merchant in one click. The charges are only applied on the credit card or debit card which does not debit amount from your UPI linked account. These amounts will be applied on your transaction as per basic charges and will be almost lower than actual interest applied by Banks.
What if you do not pay Payment Gateway Charges?
Whenever you choose to make payment through Payment Gateway and if it populates any charges, then it is mandatory to make the payment. unless you accept to pay the amount, your transaction will not be processed, and you will not have a successful transaction.
Do Payment Gateway Charges for security?
No, the UPI transaction through VPN enabled on Payment Gateway is free of cost. The charges are only applied on credit accounts which should not be used for direct money transfer. Despite this is a secure way of payment and does also make your transaction get completed in quick steps without much complications.