What is a blended price:
With a blended rate all of the costs associated with each transaction are bundled into one simple to understand fee.
Historically a standard was set by payment providers to charge merchants a different rate for every type of transactions because of the different interchange (to the card issuers) and scheme (to the payment schemes; VISA and MasterCard) fees associated with different transactions.
This historic ‘unblended’ pricing lead to complex fee structures to explore, with a number of factors creating volatile amounts charged; debit, credit, consumer, corporate, domestic, intra (European), inter (international) card transaction types, each combining with one and other to create a vast number of unpredictable charges for merchants.
With our blended pricing, you will be charged one rate for all VISA and MasterCard transactions and then a second rate for other payment schemes; AMEX, JCB, Union Pay, Diners, Discover. These two rates are charged separately so that any rising cost of other payment schemes does not influence the fee you pay for your VISA and MasterCard transactions (but typically only make up a small share of the transactions of our merchants).
What are the benefits?
We are in the process of simplifying every part of our offer to you after feedback that our settlement reports were creating confusion. From now on, we will be dedicated to making sure you have full understanding and transparency into what we’re charging and why.
With these blended rates, you have have a very simple and easy to reconcile charge for our payment service, enabling you to have a better understanding of your expenses.
How is the fee calculated ?
The fee is calculated simply as a percentage of the total card payment amount for the two types of transactions (Visa and MasterCard, or other schemes).