The payments glossary
Big ideas.
Plain English.
Understand the words behind your payments. A practical reference for the terms on your statement and the questions in your next conversation.
14 terms to explore
Batch and settlement fees
Some providers charge when transactions are submitted as a batch. Check the count and the agreed fee.
Early termination and switching costs
Ending processing and ending an equipment lease can involve separate obligations. Read both before switching.
Monthly minimum fees
A monthly minimum may add a charge when eligible processing fees fall below the amount in your agreement.
Payment gateway fees
A gateway connects payment information between your checkout and the processing system. Its charges may appear separately.
PCI program and non-compliance fees
A processor’s PCI-related charge is a billing item. Your actual data-security obligations need their own review.
What Are Assessment Fees?
Small fees the card networks themselves charge on volume, on top of interchange.
What Is a Chargeback?
A forced reversal of a transaction initiated by the cardholder's bank, often from a dispute.
What Is Dual Pricing?
Showing a cash price and a card price side by side, so the card cost is transparent and disclosed.
What Is Flat-Rate Pricing?
One simple percentage (and sometimes a per-transaction fee) on every sale.
What Is Interchange-Plus Pricing?
A transparent model: wholesale interchange passed through at cost, plus a fixed, disclosed markup.
What Is Interchange?
The wholesale fee set by the card networks and paid to the cardholder's bank on every transaction.
What Is Surcharging?
A compliant fee added at checkout on credit-card transactions to offset acceptance costs.
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