Online Credit Card Fees & Payments

All credit card payments processed online will incur approximately a 3.5% credit card "discount" processing charge which will be charged to the league and deducted from the amount paid or deposited.

If you wish to pass the processing fees on to your customers, you will need to increase the gross fee amount by approximately 3.5% in order to account for the 3.5% taken out for the crdit card processing discount fees. For example, if your player registration fee is $100 for the upcoming season and you would like to pass the associated discount fees on to your customers, you should increase the fee by $3.50 ($100 x 3.5% = $3.50) and set the total registration fee amount as $103.50. This is the gross amount paid by the customer.

Basically, the calculations look like this:

In the customer's Shopping Cart, the Item Price  ($100.00) x Quantity (1) = Amount Due ($100.00) + any Taxes + any Convenience Fees ($3.50) = Total Amount Due ($103.50) payable by the customer (gross sales revenue);

at Checkout, the customer is then charged the Total Amount Due. If paying by check, no credit card processing fees are applied. If the customer pays by credit card, then the 3.5% credit card processing "disocunt" fee is applied to the Total Amount Paid ($103.50) by the customer (gross credit card receipts);

Credit Card receipts are processed and batched weekly. All Gross Credit Card Receipts ($103.50) are discounted 3.5% and deducted from the batch deposit as the credit card processing "dscount" expense ($3.62). The "net" sales amount ($99.88) is then deposited into your account, generally on Tuesdays, depending on the banks themselves.

By adding a 3.5% convenience fee to your registration price, the effective discount expense is only $0.12 per $100.00 in registration fees. If the convenience fee is increased to 3.65%, the league credit card discount expense is effectively offset by additional convenience fee.

 
PARENT OR CUSTOMER FEES LEAGUE FEES  Deposit Expense
Initial Registration Fee or Price or Desired League Revenue Convenience Fee Percentage Additional Convenience Fee added to Price to recover "Discount" Fee Gross Amount Charged Customer Credit Card Processing Fee charged by Everysport processor Gross Credit Card Processing "Discount" Fee @ 3.5% Net Deposit League Expense Credit Card Processing "Discount"  equals (3.5% x column D)
EXAMPLES
Registration 1   $  100.00 0.00% $0.00 $100.00 3.50% $3.50 $96.50 $3.50
Registration 2  $  100.00 3.50% $3.50 $103.50 3.50% $3.62 $99.88 $0.12
Registration 3  $  100.00 3.65% $3.65 $103.65 3.50% $3.63 $100.02 -$0.02
Registration 4  $  200.00 3.50% $7.00 $207.00 3.50% $7.25 $199.76 $0.25
Registration 5  $  200.00 3.65% $7.30 $207.30 3.50% $7.26 $200.04 -$0.04
 

Note: Regardless of the "convenience fee" added to the initial registration fee to pass through to the customer in order to "recover" or offset the gross credit card processing fees, the league will always incur a "credit card discount expense" albeit a minimal amount since the bulk of the fee is passed on the customer.

 
 

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