At PayJunction, we provide a detailed breakdown of our customers’ bills each month, which we’ll discuss in detail below. For customers on Interchange-plus pricing, transactions are charged based on their wholesale cost (as dictated by the card brands Visa, MasterCard, Discover and Amex) plus a consistent provider markup.
The major benefits with Interchange-plus pricing are transparency and affordability. You know exactly what the true cost is for each transaction and how much money you’re paying your provider. In the processing-details section of our merchant statements, you can see each card type, the discount (or wholesale) rate and the transaction fee (or provider markup).
Every PayJunction merchant statement is broken into five categories, which we’ll detail in this merchant statement example:
If you deposit through Amex Direct, all Amex volume will be listed in the “Other Card Batch Amount” column. The deposit details section also lists the previous month’s fees as a debit, which is -$64.58 in the example above.
In the spirit of transparency, PayJunction’s Interchange-plus statements list each card type twice. You can see in this merchant statement example that PayJunction’s markup is a consistent 0.75% of the card volume.
The first entry, VS CPS Retail Check Debit, notes PayJunction’s markup of 0.75% on the $564.51 in VS CPS Retail Check Debit transactions. The second entry notes the 0.80% wholesale Interchange cost that will be paid to the card brands along with the flat-cent transaction fee. The $4.23 paid to PayJunction plus the $5.27 paid to the card brands bring the total fees paid for that card type to $9.50.
In this merchant statement, fees paid to PayJunction are highlighted in yellow, whereas wholesale costs remain in white.
You can view the complete merchant statement on Interchange-plus pricing here.
Do you have any remaining questions on how to read Interchange-plus merchant statements? Let’s start a conversation below.