How is the credit card processing fee deducted? It will be clear after reading it

Nowadays, many people have applied for credit cards for daily consumption. However, some people do not need to pay fees for swiping their cards, while others have been deducted fees. So the handling fee for swiping credit cards is How to deduct it? Today I will briefly introduce the credit card swiping fees. Friends who are interested can take a look together.

How is the credit card processing fee deducted?

Credit card handling fees are usually borne by the merchant, that is, the handling fee is deducted from the amount of the consumer's card, and the remaining amount is considered the actual amount received by the merchant. However, sometimes when the amount of credit card swiped is relatively large, some merchants are not very willing to let consumers swipe their credit cards. If they want to swipe their credit cards, the consumer needs to bear the handling fee.

The specific handling fee collection method is related to the amount of the card swiped and the method of swiping the card. There are two methods of credit card swiping: direct swiping and quick pass swiping. Direct swiping means taking the credit card and inserting the card or swiping the card to make a purchase. Quick pass swiping means bringing the credit card close to the POS machine or binding the card with WeChat or Alipay and approaching the POS machine to pay. , the card swipe rates are different.

1. Swipe the card directly: UnionPay POS machines charge according to the standard rate. Third-party POS machines charge higher rates and also charge a single service fee. No matter how much the amount is swiped, the rate will be the same. Implemented according to a rate standard.

2. QuickPass card swiping: QuickPass card swiping has a small-amount double-free function. By default, transactions not exceeding 1,000 yuan are executed at the preferential rate. If the amount exceeds, the standard rate will be charged. This means You may encounter situations where the credit card payment method is obviously the same, but the handling fees deducted are calculated differently.

In addition, if the handling fee is borne by the merchant, although the consumer will not be deducted, if he cannot repay in full and chooses installments, then installment handling fees will be incurred. Different from the charging standard for credit card deduction, the specific rate is related to the number of installments, and the rates are different for different banks.

The above is the relevant introduction to "How to deduct the credit card processing fee", I hope it will be helpful to everyone.

How to calculate the credit card swiping fee? How much handling fee will be deducted from 10,000?

Nowadays, many people use credit cards to make purchases in daily life, and credit card swiping will incur handling fees. Although it is generally borne by the merchant, it is best for the cardholder to also Understand how this fee is calculated. So, how to calculate the credit card swipe fee? How much handling fee will be deducted from 10,000? Let’s briefly introduce it today.

How to calculate the credit card swiping fee?

Credit card swiping fees are usually paid by merchants to banks and third-party institutions, that is, they are deducted from the cardholder's swiping amount, and the remainder is the actual amount received by the merchant. Some merchants will refuse to swipe credit cards unless the cardholder voluntarily bears the handling fee, so it is also necessary to understand the standards and algorithms for credit card swiping fees.

General credit card swiping fees are determined by the POS machine swiping rate and the amount of the card swiped. The rates for traditional card swiping and quick pass swiping are different. If the card is swiped in the traditional way, such as inserting and swiping the card directly at the POS machine, the standard rate will be applied; if the card is swiped with QuickPass, if the amount exceeds 1,000 within 1,000, the fee will be charged.

Specific calculation formula: credit card swiping fee = card swiping rate × card swiping amount

How much handling fee will be deducted for 10,000?

If the card is swiped for 10,000 yuan, it will be swiped in the traditional way, that is, 10,000×yuan, and there will be a handling fee of at least 60 yuan.

Swipe the card according to the QuickPass method, even if you swipe 10,000 yuan directly, you will also have to pay a handling fee of at least 60 yuan. Then the handling fee is only 38 yuan.

The above is the relevant introduction to "How to calculate the credit card swiping fee? How much is the handling fee deducted for 10,000". I hope it will be helpful to everyone.

How to calculate the Bank of China credit card swiping fee

For credit card overdraft consumption transactions, Bank of China generally provides an interest-free repayment period of 20-50 days. If it is before the interest-free repayment period, If you repay in full, no overdraft interest will be charged; if the full amount is not repaid before the interest-free repayment period, interest will be calculated in installments based on the actual amount owed and the actual amount owed from the transaction recording date. The overdraft interest rate is 0.5% of the daily interest rate, and compound interest is calculated on a monthly basis.

The above content is for your reference, please refer to actual business regulations.

How to calculate the credit card processing fee

The specific calculation formula: credit card service fee = card fee rate × credit card amount

1. Credit card processing fee is usually charged by the merchant. The fees paid by banks and third-party institutions are deducted from the cardholder's card balance, and the remainder is the amount actually received by the merchant. Some merchants will refuse to swipe a card unless the cardholder voluntarily bears the handling fee, so you need to understand the charging standards and algorithm for the card swiping fee.

2. General credit card service fees are determined by the POS card rate and card amount. The rates for traditional swipe cards and quick passes are different. If you use the traditional method of swiping the card, such as inserting the card directly on the POS machine and swiping the card, the standard rate is 0.6%; for quick pass, 0.38% for less than 1,000 and 0.6% for more than 1,000.

1. After the store accepts the customer's credit card, a 2-3% handling fee must be paid to the bank and credit card center. It’s called a swipe fee. In November 2012, the central bank issued the "Notice of the People's Bank of China on Implementing Adjustments to Bank Card Handling Fee Standards", stating that this fee reduction only involves domestic bank card consumption transactions. The merchant card handling fee regulations implemented in 2003 will be abolished at the same time from February 25, 2013, and the overall card fee rate will be reduced by 23% to 24%.

2. After the store accepts the customer's credit card, it needs to pay a 2-3% handling fee to the bank and credit card center. In order to save costs, some manufacturers will require cardholders to pay additional handling fees, because an invoice must be issued to swipe the card, so the store cannot evade tax.

3. According to the current income distribution method for bank card inter-bank transactions of China UnionPay network institutions, the settlement fees for bank card acquiring business are all borne by merchants. However, the rates implemented in different industries are different, and the rate standards range from It varies from 0.5% to 4%. Generally speaking, the card swiping rate in the retail industry is 0.8%-1%, that in supermarkets is 0.5%, and that in the catering industry is 2%.

4. In November 2012, the central bank issued the "Notice of the People's Bank of China on Effectively Adjusting and Implementing Bank Card Service Fee Standards", stating that this fee reduction only involves domestic bank card consumption transactions, and the relevant regulations The merchant credit card service fees implemented in 2003 have been canceled at the same time since February 25, 2013, and the overall card credit rate has dropped by 23% to 24%.

5. The bank card handling fee standards shown in the attachment of the central bank notice will maintain the current differentiated pricing in the card handling fee industry. The industry classification is mainly divided into four categories: catering and entertainment, comprehensive, people's livelihood and public welfare. The overall decline was 23% to 24%, of which catering and entertainment dropped by 37.5%.

6. The first category is catering and entertainment, including catering, entertainment, jewelry, handicrafts, real estate and car sales. The comprehensive rate dropped from 2% to 1.25%, a decrease of 37.5%. Among them, the card issuing bank service fee is 0.9%, the bank card clearing agency network service fee is 0.13%, the acquiring service fee base price (can fluctuate by 10%) is 0.22%, and the unit sales price of real estate and automobiles has been increased from the original 10 yuan to 80 yuan.

7. The second category is the general category, including department stores, wholesale, social training, intermediary services, travel agencies, scenic spot tickets, etc. The comprehensive rate is reduced to 0.78%, of which the issuer service fee is 0.55%. The network service fee of bank card clearing institutions is 0.08%, the base price of the acquiring service fee (can fluctuate by 10%) is 0.15%, and the wholesale limit is 26 yuan.

8. The third category is people’s livelihood, which mainly includes supermarkets, hypermarkets, water, electricity and gas payments, refueling, transportation ticketing, etc., with an overall rate of 0.38%. The fourth category is zero-interest hospitals, education and other public welfare categories.

How to calculate the handling fee for POS machine swiping credit card

POS machine swiping - handling fee = actual rate for the card amount swiped. For example, the user spent a sum of 10,000 yuan and used Bank of China to debit The card swiping rate at the POS machine is 0.5%, so the handling fee = 100000.5% = 50 yuan. According to the capped preferential policy, A needs to pay a handling fee of 20 yuan. When using a Bank of China credit card, the card swiping rate is 0.6%, so the handling fee =100000.6%=60 yuan.

Currently there are several rates for POS machines. The handling fee for using a POS machine to swipe a card depends on which payment channel you choose to settle the transaction. It’s 0.6% if you swipe your card, and 0.38% if you scan a QR code or QR code. If you scan the QR code or use Cloud QuickPass, it is 0.38%.

Different POS machines have different rates. If you are using a large machine such as a merchant POS machine or an electronic signature POS machine, the standard rate is 0.6% for swiping the card, 0.38% for scanning the QR code, and Union Quick Pass ( Within 1,000 yuan) 0.38%.

The rates of POS machines vary. Many users always like to use low rates just to save a few dollars in handling fees. But did you know that the state stipulates that the minimum rate for POS machines should not be less than 0.55%? On the one hand, banks cannot make money; on the other hand, low rates are easy to skip, leading to risk control, which is extremely risky. If you want to protect the security of your card, it is best to use a rate of around 0.60%, which is the most reliable, stable, and unanimously recognized rate in the industry.

According to the official websites of each bank, it can be seen that the POS machine rates charged by bank institutions’ debit cards and credit cards are as follows:

1. Bank of China 0.5%~20, with a cap of 0.6%;

2. The Agricultural Bank of China has a cap of 0.5% to 20 and a cap of 0.5%, the Industrial and Commercial Bank of China has a cap of 0.5% to 17 and a cap of 0.6%, the China Construction Bank has a cap of 0.5% to 20 and a cap of 0.6%, and the Bank of Communications has a cap of 0.5% to 20 and a cap of 0.6%;

4. China CITIC Bank 0.5%~18 capped 0.55%, China Minsheng Bank 0.45%~20 capped 0.55%;

5. Guangfa Bank 0.5%~17 capped at 0.6%.

From the perspective of bank information, the debit card POS machine swiping rate is mostly 0.5%, among which Minsheng Bank’s rate is lower at 0.45%. The credit card POS machine swiping rate is usually 0.1 higher than that of debit cards. %, mostly 0.6%. Users should note that compared with debit cards, credit cards do not have a preferential policy on handling fee caps.

The current card payment rates are divided into three types:

1. Standard type: 0.6%

Standard type: the handling rate used by ordinary merchants and users , that is, the standard rate, only 0.60% is required to swipe the card;

2. Discount type: 0.38%

The card issuing bank charges 0.325%, UnionPay 0.0325% (respectively to the card issuing bank and payment bank) (charged by institutions), so the fee for exemption is generally 0.38%-0.48%.

3. Public welfare type: 0 rate

Hospitals, schools, nursing homes and other public places are free of charge.

That’s it for the introduction of how to calculate credit card consumption.