EFTPOS merchant charges

Claire sells handmade clothes at the markets on the weekend and her turnover averages $5, 500 per month. Her customers want to pay by eftpos, Visa or MasterCard for about 70% of those transactions, making a total of $3, 850.

Claire chooses the $55/month plan, with $3, 500 of included transactions. Because she exceeds the Transaction Limit of the plan she pays a 1.5% fee on the additional $350, which comes to $5.25. The direct cost of her eftpos, Visa and MasterCard transactions for the month is:

Direct transaction cost on $55/month plan for $3, 850 in transactions

$55 (participation fee)
+ $5.25 (additional fees)
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= $60.25/month

Three months later Claire's business is booming so she switches to the $85/month plan, with a $6, 000 Transaction Limit, as she expects her turnover of eftpos, Visa and MasterCard transactions to be higher at $7, 000. Because she exceeds the Transaction Limit of the plan ($6, 000), she pays a 1.5% fee on the additional $1, 000, which comes to $15. The amount Claire paid to accept eftpos, Visa and MasterCard transactions is:

Direct transaction cost on $85/month plan for $7, 000 in transactions

$85 (participation fee)
+ $15 (additional fees)
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