Fees
A fee is a fixed price charged for a specific service. Fees are applied in a variety of ways such as costs, charges, commissions, and penalties. Fees are most commonly found in heavily transactional services.
Before creating a Payment using Plastiq Connect, you must create a Payment Intent. A Payment Intent is useful in capturing associated fees that might be applied to a Payment. A Payment Fee manifests itself in the form of a fees object in a POST Payment Intent response containing an array of fees applicable to the prospective Payment.
There are a finite set of fees that might apply to a Payment. Currently, flat dollar fees and percentage-based fees are supported by Plastiq Connect:
- Flat dollar fees are fixed dollar amounts assessed on top of a
targetAmount - Percentage-based fees are assessed as a fixed percentage of the
targetAmountand added to the total amount charged for the transaction
Note: targetAmount is also referred to as the principal or the payout, the amount of money the Payer has specified for payout to a Recipient.
Below you can find a list of all fee types along with a brief description and corresponding cost structures:
| Fee Type | Description |
|---|---|
| PLASTIQ_SERVICE_FEE | A fee for processing a card payment *Fee can be offset by credit card rewards, early pay discounts and may be tax deductible |
| PLASTIQ_CROSS_BORDER_FEE | A fee for processing a Payment where the Payment Method and Recipient are located in different countries (US/CA only) |
| DELIVERY_FEE | A fee for covering costs with sending the Payment based on the Recipient's receiving method |
| EXPEDITED_PROCESSING_FEE | A fee for processing an expedited Payment |
| EXPEDITED_HANDLING_FEE | A fee for handling an expedited Payment |
Updated 8 months ago