Transaction Fees

Transaction Fees,

Definition of Transaction Fees:

  • A transaction fee is a fee that a company has to process electronic payments for each customer transaction. The transaction fee varies between service providers and usually a merchant's fee ranges from 0.5% to 5% of the transaction amount and some flat fees.

    • Transaction fees are the fees that companies pay to service providers whenever a customer processes an electronic payment.
    • The transaction fee may vary depending on the service provider, but is usually between 0.5% and 5% plus some flat fees.
    • The merchant works with the Merchant Acquisition Bank to set up electronic payment processing and deposit funds into this account.
    • Transaction fees usually consist of acquisition and processing fees.
    • American Express, Visa, MasterCard and Discover charge almost the same price, some components are slightly different from a few cents.
    • In the merchant's statement, fees are usually divided into exchanges, installments and purchases.

Literal Meanings of Transaction Fees

Transaction:

Meanings of Transaction:
  1. Examples of commercial buying and selling transactions.

Sentences of Transaction
  1. Delivery date is very important in normal business transactions

Synonyms of Transaction

deal, business, agreement, undertaking, affair, arrangement, bargain, negotiation, treaty, contract, pact, compact, bond, settlement

Fees:

Sentences of Fees
  1. Others now offer discounts to consumers when they purchase software for their free online service.

Synonyms of Fees

payment, emolument, wage, salary, allowance, stipend, handout, pay, reward, reimburse, recompense, give payment to