Fees

How does tiered pricing work?

Tiered pricing splits the fees you pay per transaction into three tiers, which are based on how you process the card and the associated risk of the transaction. The credit card processor assigns the transaction into one of the following tiers:

Qualified – lowest risk and lowest cost per transaction
Mid-qualified
Non-qualified – highest risk and highest cost per transaction

If you run a transaction incorrectly, or it has a higher risk associated with it, the transaction is downgraded to a mid-qualified or non-qualified tier.… Read More “How does tiered pricing work?”

How does interchange pricing work?

Interchange pricing provides a single transaction fee that is unaffected by how you process the card or the associated risk of the transaction. We calculate the fee you pay per transaction using basis points, which we agree with you when you choose to use interchange pricing.… Read More “How does interchange pricing work?”

How do I avoid downgrades?

Avoiding downgrades ensures that you are paying the lowest possible transaction fees. A transaction can fall into one of three rate categories and processors charge a different fee depending on which category a transaction falls into. A transaction can fall into one of the following categories:

Qualified – lowest risk and lowest cost per transaction
Mid-qualified
Non-qualified – highest risk and highest cost per transaction

What is a downgrade?

What options do I have for paying my fees?

You can choose to pay your card transaction fees either daily or monthly. The following payment options are available:

Tiered pricing
Interchange pricing

Note: If you choose to pay your transaction fees daily on either tiered or interchange pricing, your account fees and any balances owed are charged on the last business day of the month.

When are the monthly fees deducted from my bank account?

Monthly fees are taken out of your account between the first and fifth business day of the month. For example, your account activity in January will be debited on the second business day of February.

When fees are deducted, the descriptor on your bank statement is typically one of the following:

CR CD CHBK: Debit for chargebacks
CR CD ADJ: Adjustments
MERCH FEES: Card brand fees and account fees

Why am I getting separate charges from Authorize.net?

These are third-party services that charge their own fees. While we can help you to set up these third-party gateway services, you need to contact their Client Service department for any billing questions related to their service.

Contact us

If you have more questions, contact the relevant support team:

Genius Support Team

For help with setting up or using your Genius device.

Technical Support Team

For help setting up non-Genius terminals or checking the status of your equipment order.… Read More “Contact us”