Anyone know a card processor who offers "gross settlement"?

[cotleigh]

Hi

We used to use Worldpay for our in-person and over-the-phone credit and debit card payments until April 2024.

Then, they switched from paying us the gross amount for each transaction and then charging us one monthly bill for all of their card processing fees, to doing "net settlement", where they take the card fees off the amount they credit you for each transaction.

I don't like this, it makes it a LOT harder to reconcile the amounts coming into our bank with the invoices.

Does anyone know another card processing company who do this please?

Thanks in advance!

Giles

 

[Sil_14]

Hi, I use PaymentSense and they (still) pay us the gross amount and bill the fees monthly.

 

[David Griffiths]

Barclaycard also pay gross and bill the fees monthly,

 

[cotleigh]

Hi, I use PaymentSense and they (still) pay us the gross amount and bill the fees monthly.

Thanks, I will check them out

 

[numbersrule]

This is another example of big business not caring about detail.

They just serve their own ends and disregard what the consequence might be for everyone else.

Having said that, it shouldn't be too difficult to create Bills / Purchase Invoices for the processing fee.

But again it would need doing every time if the amounts vary.

 

[Paul Kelly ICHYB]

Do they send you a cost summary every month? If yes, process your sales gross and then enter their monthly bill! The net effect is the same!