Payment acquirer fees, often associated with credit card processing or online payment gateways, can impact a business's bottom line. To offset these costs, businesses can charge customers an additional fee for using certain payment methods. The Payment Acquirer Fees module automates this process by adding payment processing fees to transactions where necessary. This ensures that businesses don’t have to absorb the full cost of payment processing and can pass the expense on to customers transparently.
This module is particularly useful for businesses that accept various forms of payments through online gateways or in-store credit card transactions. By automating the fee application process, it reduces the need for manual intervention and provides customers with clear visibility of the fees involved before completing a transaction.
Functionality at a glance:
- Automatically applies payment acquirer fees to transactions processed through specific payment methods.
- Offers transparency to customers by displaying the additional fees before they complete their transaction.
- Helps businesses maintain their profit margins by passing payment processing fees to customers.
- Integrates seamlessly with Odoo’s invoicing and payment systems for easy fee management.
- Ensures compliance with regulations by clearly stating the fees associated with each payment method.
For businesses that operate on thin margins or deal with a large volume of credit card transactions, this module offers a simple way to ensure that the costs of payment processing are shared with the customer.
Example Use Case:
An e-commerce business that offers multiple payment options, including credit cards and online payment gateways, can use the Payment Acquirer Fees module to automatically apply a 2.5% fee for all credit card transactions. This ensures that the business doesn’t lose revenue on processing fees while keeping the process transparent for customers. Before completing their payment, customers can clearly see the fee applied, making the entire transaction process more straightforward and ensuring compliance with consumer protection regulations.
In conclusion, the Payment Acquirer Fees module is a valuable tool for businesses looking to offset the costs of payment processing. By automating the fee application process, it ensures that businesses can maintain their profitability while providing customers with clear, transparent information about any additional costs associated with their payment method.
Enable Surcharges on Payment Acquirer (F1870)