📝 Overview
At DaySmart, we recognize the significance of being aware of the fees associated with your business transactions. It is important to have a clear understanding of terms like "swipe" and "non-swipe" transactions, as they can impact the costs you incur.
We aim to provide you with the knowledge and tools to easily identify and analyze these fees, ensuring you have a comprehensive view of your expenses and can make informed decisions for your business.
🚀Understand Your Rate Plan
Swiped Cards / Tap, Chip, Swipe / CP (Card Present)
A card-present transaction means a physical card or device is used directly at your payment terminal.
Inserting a card with an EMV chip
Swiping a card using its magnetic strip
Tapping a card or contactless device (such as Apple Pay or Google Pay) at the terminal
Basically, if the card or device is physically used at the payment location, it counts as a card-present transaction!
Non-Swiped / Manually entered, Saved card on file, Online payments / CNP (Card Not Present)
A card-not-present transaction means a payment is made without physically using a card at a terminal.
Manually entering card details.
Using a saved card on file
Recurring payments
Online transactions, including Apple Pay or Google Pay used digitally
If a card is not physically used at your credit card reader, it is classified as a CNP transaction. These transactions typically incur a higher processing fee due to the increased difficulty in verifying that the cardholder approved the transaction, which raises the risk of fraud and chargebacks.
🔎Where to Locate Transaction Fees
DaySmart has a special approved integrated rate plan that is lower than Stripe's standard pricing. When you run a transaction with DaySmart, you get these special rates:
United States
Swiped: $0.10 + 2.6% per transaction
USD Non-Swiped: $0.10 + 3.1% per transaction
Canada
Swiped: $0.10 + 2.6% per transaction
Non-Swiped: $0.10 + 2.9% per transaction
Interac: $0.15 per transaction
We understand how important it is to stay informed about your successful transactions and fees. Rest assured, viewing your transactions on Stripe is a simple and reassuring process!
On the left side, click Transactions.
Select the payment you'd like to see more info on
Look for Payment Breakdown
Payment Amount: The amount the transaction was run for
DaySmart Application Fee: The amount taken by Stripe to process the transaction
Net Amount: The amount you receive in your payout
If surcharging is enabled and applicable, it will appear as a collected fee under Transfer Details.
💬 Contact Us
Can't log in to Stripe or still have questions? Contact us through our live chat option at the bottom right of this article or email us at paymentsupport@daysmart.com.