With Stripe, this fee is taken off before your revenue is deposited into your bank account. This means the revenue you receive every month is after all fees have been taken off.
BrainTree unfortunately doesn’t support that fee structure. In order to integrate our 1% fee into BrainTree, we must charge our 1% fee (based off your revenue) after your revenue has already been deposited into your account. We do this by charging your credit card every week.
Just like BrainTree, our other many supported payment gateways function this way as well.
So how does this work?
When enabling BrainTree within Recurring Orders, we require for you to enter a credit card which will be used for the 1% transaction fee.
We charge this 1% fee every week, unless the total value of your 1% fee is less than $100 in which case we will delay the charge until you reach that amount.
Here’s an example:
Ron’s store has 1000 weekly subscribers at a total of $10 per subscriber. His total weekly revenue would be $10,000.
Taking this sales figure into account, Ron would be charged a 1% fee of $100 every week (which would be charged to his credit card).
Let’s say, for example, Ron lost a few subscribers and now has a total of 800 weekly subscribers.
Seeing as his weekly revenue would now be $8,000 and 1% of that would be $80, Ron wouldn’t get charged every week. Instead, he would be charged next week when his total fee surpasses $100. If Ron didn’t lose or gain any subscribers, he would pay $160 the next week.
If your credit card is declined after several attempts to process the 1% transaction fee, your account (and subscriptions) will be put on hold.
If you have any questions about Stripe, BrainTree, or how the 1% transaction fee is handled, please feel free to reach out to us directly.