I have been told that it is a flat rate of 2.5% to process my Visa and MC payments from my customers. Looking at my fees I see I am paying 3.4% on some, 3% on others?

Hi WRoberts

The fee is dependant upon the card being used by your customer.  The basic run of the mill cards will charge 2-2.5%, some of the more advanced rewards cards charge higher fees to afford your customers with their airmiles, bonus dolllars, or whatever scheme the credit card is running which you fund via your fees.

You have no ability to reject rewards cards either, fun huh?

Hi there wroberts77427,

Making sure to know the fees associated to services is important to all business owners. QuickBooks Online Payments is a great way to have your customers pay directly within the invoice they received from you to make sure you receive your money quickly. I can provide some information relating to the fees for QuickBooks Payments.

The fee for transactions processed through QuickBooks Payments is $0.25 plus 2.9% of the total amount of the transaction. The 25 cents would be why you're seeing the amount not be the same percentage for each transaction. This amount applies to both Visa and MasterCard payments. You can view this information within this link containing the Intuit Canada Merchant Agreement.

If you have any other questions, feel free to reach out here.