Collecting Fees

As your sellers process payments, you need charge your sellers fees and Finix will charge fees to your platform. Understanding fees covers a few areas:

Fees and Fee Profiles.

The fees that are places against sellers are determined by the fee_profile. A fee profile lists each fee type and the amount to charge when that fee event occurs.

Different events in the Finix system will cause a fee to be generated. Most of them are triggered when a transfer moves to SUCCEEDED. We provide a Fee Profile Merchant report that details all the fee profiles configured across all merchants

The fees that are created from payment processing will be part of the settlement and payout with the given transfer.

Editing Fee Profiles

You can not edit fee profiles directly, reach out to support if you want to edit the fee profile in the application profile or a specific merchant profile. It's important the fees you want to charge are ironed out before you go into production as you need to clearly communicate fees to your sellers when you onboard them.

Finix's Fees

The fee_profiles control what fees are levied against your sellers, separately, Finix will charge you in enabling payment processing. These fees are calculated monthly and sent to you by email.

Settling Fees

Fees are automatically including in your sellers payouts. The settlement will have both the transactions as well as the fees of the merchant.

The settlement indicates the fee_amount which is the total fees that are being charged to the merchant for that settlement.

Each seller will have clear payouts, though you need to calculate your revenues separately.

Your Revenues

Finix system is designed to enable you to monetize your payments. The difference of the fees you charge your sellers through fee_profiles to what Finix fees are applied to you is the revenue you made from processing payment.

Use the Net Profit Report to see a consolidated view of all the fees you collected from your sellers.