Welcome to Teya's Fee hub - tailored for dynamic businesses like yours.
We're a collective of diverse companies under the Teya banner. Each service might hail from a different provider, each with its unique fee structure. Do note, while many services have standard fees listed, some may require individual agreements. Depending on where you're based, service availability could differ.
Teya's available fee are listed below.
Teya Payment Services
At Teya we offer our merchants the option for blended and unblended rates. Whether you're looking for a simple and straightforward option or a more detailed representation of your processing costs, we've got you covered.
Teya’s blended rate provides a single, easy-to-understand rate for all types of card transactions, making it easy to compare costs and budget for future processing expenses.
Blended rates combine the cost of processing all types of card transactions into one average rate. This rate is calculated by dividing the total cost of processing all transactions by the total number of transactions.
Teya’s blended rates include all fees and charges applied by card issuers, card schemes and Teya. This means that a standard fee applies when accepting card payments irrespective of different categories or brands of cards and countries from where the card is issued. With our blended rates, you know exactly what you will be charged and if the processing cost associated with a transaction is higher than your single rate, Teya will absorb the difference.
In short, with Teya‘s blended rates, you can enjoy a simple and straightforward pricing option. No more worrying about multiple fees and charges – you'll only ever pay a flat rate that covers all of your card processing costs, including interchange fees and any additional costs.
Unblended rates, on the other hand, provide a more detailed representation of the cost of processing card transactions. They break down the costs of processing different types of transactions into separate rates, taking into account the differences in cost associated with each type of transaction. This provides a more detailed representation of the cost of processing each type of transaction and can be useful for merchants who want a deeper understanding of their processing costs.
Unblended rates are comprised of three separate fees:
- Acquirer Markup: This fee is charged by the company that helps you get paid for your sales, such as Teya. It covers the cost of acquiring the funds from your customers.
- Card Scheme Fees: This fee is charged by the network (such as Visa and Mastercard) used by your customers' cards. It covers the cost of using that network.
- Interchange Fee: This fee is charged by the bank that issued your customers' cards. It covers the cost of processing the transactions on that card.
While the acquirer markup is static, the card scheme and interchange fees are not and are non-negotiable. The fees charged by the card network and the bank (card scheme and interchange fees) may vary. This is because these fees are influenced by many different factors, such as:
- Card Networks: Different card networks may have different fees for processing transactions. For example, the cost of accepting a payment from a customer using a Visa card may be different from the cost of accepting a payment from a customer using a Mastercard.
- In-Person vs. Online Transactions: When a customer makes a purchase in person, using their physical card, this is considered an in-person (or "card-present") transaction. These types of transactions typically have lower fees compared to online (or "card-not-present") transactions, as there is less risk of fraud.
- Credit Cards vs. Debit Cards: When customers use credit or deferred debit cards, the fees that banks charge for processing the transactions (interchange fees) are usually higher than for immediate debit or prepaid cards. This is because there is considered to be more risk involved with credit and deferred debit card transactions.
- Merchant Category Code (MCC): The code assigned to your business by card networks can also affect your interchange fees.
- Personal vs. Business Cards: When customers use a business credit or debit card, the fees that banks charge for processing the transactions (interchange fees) are typically higher compared to those charged for personal cards.
- Transaction Location: When customers make a purchase using a card issued by a bank in the same country as the business, these transactions (known as "domestic transactions") usually have lower fees than when customers use a card issued by a bank in a different country (known as "cross-border transactions").
Choosing unblended rates means you'll receive a detailed explanation of the fees charged when processing payment card transactions. This way, you'll have a clear picture of each fee and might see some fluctuations from one statement to the next.
If you'd like to learn more about unblended rates or request an offer, feel free to reach out to us via email@example.com.
Teya Business Account
In the UK, provided by Teya Iceland hf. Fee schedule is accessible here.