How fees are collected
Nothing comes out of a payment. Fees go on a statement, and 402pay collects them from your incoming payments.
Your payments go straight to your own wallet, so 402pay never holds anything to take a fee out of. Instead, fees add up on your statement and we collect them from your incoming payments. You never have to pay an invoice.
How it works
- Each payment's fee, and each wallet month, is added to what you owe.
- Once you owe $25.00 or more, the next checkout whose whole total fits within what you owe pays 402pay's address instead of your wallet.
- That repeats, one whole payment at a time, until what you owe is paid.
What you and your customers see
Your customer pays exactly as usual. In Payments, the payment succeeds and shows Collected as fees, and your fee statement shows it as Collected from a payment, taken off what you owe.
Paid more than you owed?
If a collected payment is more than you owed, the rest becomes credit that pays your next fees.
Good to know
- A payment is never split: it goes whole to your wallet or whole to fees.
- If a collected payment is underpaid and the customer sends the rest, the rest goes to fees too.
- Each payment's Net is what you keep once its fees are paid.
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