This Paynode Fees Schedule sets forth the amounts Sub-Merchant pays to Paynode for each Payment Transaction processed through the Payment Platform, effective as of May 27, 2020 (“Effective Date”). Capitalized terms not otherwise defined herein have the same meaning as defined in the Paynode General Terms and Conditions.
|Card type||Discount Rate|
|Visa||Interchange + 1.15%|
|Mastercard||Interchange + 1.15%|
“Discount Rate” means the percentage deducted from the Payer Funds in order to calculate the Sub-Merchant Funds.
“Interchange” means the fees changed by the Scheme Owner and the Card issuing bank, based on the Card used by the Payer.
In the event of a refund to the Payer, Paynode may retain the fees above on the original Payment Request amount.
Paynode can change Discount Rates at any time in its sole discretion, provided that such change will not be effective until the date that is 30 days after Paynode has notified SubMerchant of such change.