The options our clients use and have are the following
- share the cost of fees with competitors by absorbing the cost of the Transaction these are administration fees charged by credit card providers and banks which all business have to pay so this is the most preferred option by our clients as most are already having to face this cost. The total cost to you will depend on the mix of credit/debit and PayPal payments processed but averages at 2.5%
- share the cost of fees with competitors by absorbing the cost of the HM Admin fee - 2.5% - some organisers prefer to absorb this side of the fees as competitors then have the option to select their preferred payment method - since there is complete transparency in payments they can opt of the cheapest option or their preferred even it if is more expensive
- absorb all fees - some of our organisers feel that the amount of time Monkey saves them and the benefits to the competitors are such that they want the competitive edge making their entries as cheap as possible by absorbing all fees. The most analytical of our venues opt for this option.