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Configuring annual fees

Version: V6.3.0
Added on: 10/05/17
Difficulty:
Time: 15 min
Category: Tutorials

Prerequisite Tutorials

Name Added On Difficulty Time Required Description
Setting up merchant fees without buy rate 06/19/14 30 mins In this tutorial we are going to learn how to set up Merchant Fees for new and existing Merchants.
Setting up merchant fees with buy rate 06/26/14 30 mins In this tutorial we are going to learn how to set up Merchant Fee with Buy Rate.

Useful Terms

Fee Type     Merchant Fee    

Configuring annual fees

  1. Are you ready?

    In this tutorial, we are going to learn how to configure an annual fee, which is a type of the recurring fee withdrawn on a yearly basis. The fee can be collected right away after setting or there can be set a delay period, which indicates the exact time for the fee to be withdrawn. The annual fee can be configured at two levels - portfolio or merchant. To set annual fees at the merchant level, desired annual fee months are required to be configured as an annual fee policy. This is done at the portfolio level. After that, annual fee collection months will be available from modification at the merchant level.

    We will configure an annual fee that will be withdrawn from the merchant in March, in a year after joining the software platform.

    We will use the following parameters:
    For a portfolio:
    Annual fee policy: February, March, April, May

    For a merchant:
    Annual fee month: March
    Delay period: 1 year
  2. First, let's learn how to configure an annual fee policy that allows to collect an annual fee for a particular month.
  3. Let's learn how to configure the annual fee policy for the portfolio.
  4. Log in to the system using your Username and Password and switch to the Management => Portfolio Perspective.

    Note: To learn how to log in and select perspectives, use the prerequisite tutorial Logging in and navigating the application.
  5. Click   Detailsbutton in the top right section of the screen.
  6. Choose   General  menu item  
  7. Locate   Merchant Fees  groupbox
  8. Locate   Annual Fee Policy  dropdown
  9. Choose February, March, April, May in the dropdown.
  10. Click   Savebutton
  11. Now that we have configured the annual fee policy for the portfolio, let's learn how to configure the annual fee month for a merchant.
  12. Switch to Management => Merchant Perspective
  13. Select appropriate Merchant or Merchant Account in the top left section of the screen.
  14. Click   Detailsbutton in the top section of the screen.
  15. Choose Funding => Settings in the dropdown.
  16. Locate   Remittance  groupbox
  17. Locate   Funding  groupbox
  18. Locate   Annual Fee Month  dropdown
  19. Choose March in the dropdown.
  20. Click   Savebutton
  21. Now that we have configured the month for the annual fee to be withdrawn from the merchant, let's learn how to configure the delay indicating when the fees will be actually collected.
  22. Click   Remittancebutton
  23. Choose   Fees  menu item  
  24. Locate   Delay Period  textbox
  25. Enter 1 into the Delay Periodtextbox
  26. Click   Savebutton
  27. Congratulations, you are done!

    You have learned how to configure the annual fee policy for a portfolio and annual fee month for a merchant. Now you can do this by yourself.

Related Tutorials

Name Added On Difficulty Time Required Description
Creating a merchant with remittance settings 06/16/14 30 mins In this tutorial we are going to create a new Merchant with extended settings.

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