CentralPay's service costs are divided into 3 categories:
- Interchange fees related to credit card transactions
- Technical costs per operation
- CentralPay operating costs
Interchange ++ fees
The interchange is the value charged by the issuing institution of a credit card (the customer's bank) to the acquiring institution (Centralpay).
The Card Scheme Fees correspond to the fees taken by the Cards networks (Visa, Mastercard, CB) to make the service work.
They are named as follows:
INTERCHANGE +
Interchange fees + card network fees (card scheme fees).
INTERCHANGE ++
Interchange fees + card network fees (card scheme fees) + CentralPay operating costs
Centralpay's business model is “INTERCHANGE ++”
Since December 2015, interchange has been standardized in Europe. Outside the European Economic Area, costs are higher and less homogeneous.
Interchange fees:
Intraregional (EEA)
- Débit, prepaid: 0.2 %
- Credit, deferred debit: 0.3 %
- Corporate: 0.9 %
- Average reported in B2C: 0.23 %
Interregional (rest of the world)
- All types of cards: 2.15 %
Card scheme fees
- Interregional: 0.34 %
- Intraregional (EEA): 0.085 %
Interchange +
- Average observed in B2C Europe: 0.31 %
- Average observed in B2C outside Europe: 2.49 %
Example for a European transaction:
- A prepaid or debit consumer card cost is 0.2 % + 0.085 % = 0.285 %
- A credit card or differed debit card cost is 0.3 % + 0.085 % = 0.385 %
- A business card cost is 0.9 % + 0.085 % = 0.985 %
- A card issued outside the EEA cost is 2.15 % + 0.085 % = 2.49 %
- The average cost in Europe is 0.23 % + 0.085 % de card scheme fees = 0.315 %
Calculation of interchange fees
In order to allow the "Platform" account to know the possible costs of a Card transaction, CentralPay provides the card details in the JSON (Javascript) of the Card object:
europeanEconomicArea = False / True
If the card was issued from the European Economic Area, then the Intraregional interchange rules apply.
CommercialBrand
- VISA
- MASTERCARD
- AMEX
- OTHER
CardType
- DEBIT
- PREPAYED
- CREDIT
- DIFF_DEBIT
Region
- US
- CANADA
- EU
- ASIA_PACIFIC
- LATIN_AMERICA
- CEMEA
ProductType
- CONSUMER
- CORPORATE
TIP: to know the cost of a transaction, proceed as follows:
- Once received cardTokenId, make a GET to get the information from the card
- If europeanEconomicArea = False, the transaction is INTERREGIONAL and the maximum rate applies, be 2.49%
- If europeanEconomicArea = True, then calculate the value of the Type and Product type
- If type = prepayed or débit and productType = consumer then the cost is 0.285%
- If type = differed debit or credit and productType = consumer then the cost is 0.385%
- If productType = corporate, then the cost is 0.985%
Example of a JSON return from the Card object:
"card": {
"cardId": "9140aec5-0c6e-4c70-a6c2-b96e43792d03",
"merchantCardId": null,
"creationDate": "2018-08-13T14:31:07.009+02:00",
"commercialBrand": "VISA",
"first6": "400000",
"last4": "0002",
"expirationMonth": 12,
"expirationYear": 2018,
"country": "fr",
"cardholderName": "John DOE",
"cardholderEmail": "jdoe@gmail.com",
"description": null,
"customerId": null,
"fingerprint": "7b3572ef401515f48ed58282bbedad69236408e3",
"additionalData": {},
"cardTokenId": "ea9d68cd-152b-4176-8911-5e1a5062bcfa",
"cardType": "debit",
"region": "EU",
"productType": "consumer",
"europeanEconomicArea": "true",
},Technical fees
CentralPay charges a unit VAT expense on each transaction in or out of its "Platform".
Credit card transaction fees
Unit fees per transaction: 0.15 €.
These fees include the following costs: authorization fees, capture, costs, clearing fees, 3DS charges, anti-fraud charges, SMS fees.
Refund charges
Unit fees per operation: 0.50 €
Cancellation fees
Free
Inward and outward transfer fees from the SEPA zone
Fees by outgoing transfer: 0.15 €
CentralPay outgoing costs
CentralPay invoices its "Payment Service Agents" for running costs based on the volume of transactions in a given month.