You may currently be absorbing (wearing the cost of) the credit card transaction fees for your customers. You have the option to absorb, on-charge or split a percentage of the fees.
If you are currently Absorbing the cost of the credit card transaction fees for your customers you also have the option to On-Charge (the customer pays) or Split (a percentage between you and your customer).
You also have the option to set the default settings for all customers and then update individual customers to a different setting.
For your default settings following these steps:
- Log into your Pencil account.
- Go to Settings -> Invoices & Collections.
- Scroll down to the "Payment Processing Settings" section. Under credit card you can click on the dropdown box to see the options.
- Here your options are:
- Absorb
- On-Charge
- Split (here you can set the amount between you and your customer that you want to split the transaction fee.
- You can also apply the same Absorb/On-Charge/Split settings for direct debit/ACH transactions.