New Version GO
X

How to calculate the FEES per transaction

Updated time: Jul 31, 2018 , 17:46 (UTC+08:00)

For the formula on how to calculate the fees, kindly see the working breakdown below, which assumes an exchange rate of SGD to USD is 1SGD = 0.73USD.

For settlement in SGD

Gross Amount Captured   = 100.00 SGD

Fees (MDR+ Refund fee)  = MDR (100*2.85%) +  (0.40 USD)

                                          = 2.85 SGD + 0.40 USD

                                          = 2.85 SGD + 0.55 SGD

                                          = 3.4 SGD

Net Amount = 100.00 - 3.4 = 96.6 SGD

For settlement in non-SGD

Gross Amount Captured = 100.00 USD

Fees (MDR+ Refund fee) = MDR (100*3.3%) +  (0.40 USD)

                                         = 3.30 + 0.4

                                         = $3.7

Nett Amount = 100.00 - 3.7 = 96.3 USD

Hope this explain


Related Articles

  1. Which industries do you service?
  2. Which web browser is compatible to use for World Payments Corp
  3. Do we need to be PCI certified?
  4. Who handles all customer billing related questions and issues?
  5. What do I need in order to start selling?
  6. How to Apply Vendor Account?
  7. What payment methods does World Payments Corporation offer my customers?
  8. What currencies does World Payment Corp support?
  9. How does World Payments Corp work?
  10. What is the A/B testing feature?
  11. Can we customize our payment page?
  12. How hard is it to integrate with World Payments?
  13. How will I get paid?
  14. How long does it take to set up the payment gateway?
  15. Do you supply card terminals for physical shops?
  16. Do you have a minimum transaction amount?
  17. How to I refund a payment?
  18. What is Merchant/Vendor discount rate (MDR)?
  19. Who sets the currency conversion rates?
  20. What are the supporting documents I need to file against chargeback disputes?
  21. Do you accept oversea transaction?
  22. Do you charge for failed transactions?
  23. How do I cancel my order and get a refund?
  24. How to reset password in World Payments Corp?
  25. How do i accept non 3DS card?
  26. What happens to the money if merchant fail the assessment?
  27. How long can i expect a refund from merchant?
  28. What is the chargeback process like?
  29. Do I get my money withdraw daily, monthly or every 3 days?
  30. When I sell, and get buyers to pay, how long can I get my money?
  31. How about processing limits, fund reserves and pay-out times?
  32. What are the minimum requirements of an e-commerce website?