The myPOS Blended Service Fee simplifies the fees payable for transactions by combining various charges into a single, easy-to-understand rate. This fee includes several components, such as Interchange and Scheme Fees, which are grouped into one rate for each type of transaction.
Key Points:
Simplification: Instead of charging separate fees for each component (e.g., interchange fees, scheme fees), myPOS blends these into a single fee. This helps merchants understand their costs more easily.
Transparency: myPOS provides a summary of all included fees. A detailed breakdown of the interchange fees for each transaction can be viewed in the transaction details section of your myPOS account. To access this:
- Log into your myPOS account.
- Go to the Dashboard.
- Scroll to the Recent Activity section.
- Click on a specific transaction to view the detailed fees, including the interchange fee.