Question about Modern Authorize?
I've been looking at this site ModernAuthorize and I am a little confused..
http://www.modernauthorize.com/us/pricing.php
It appears to be a total of $20 that must be paid monthly, am I correct?
But the confusing thing is at the bottom where it says that their must be a minimum of $25 per month on the merchant account.. does that mean I must make a sales of atleast $25 a month or that they must get $25 worth of fees each month.. and if so what happens if i dont make the $25 requirement
Modernernauthorize.com and e-onlinedata
The minimum is actually covered much less the the $1162.00 mentioned above cdgcommerce because the $.25 per transaction fee is included in the minimum so if your average ticket is $15.00 then you would actually meet your minimum at about $675.00 in sales. $675.00 x 2.15% =$14.51 in discount and $675.00 divided by $15.00=45 transactions so 45X$.25=$11.25 therefore your transactions fees of $11.25 and the discount rate of $14.51 are $25.76 and you would not have a minimum that month. If you did not meet the $25.00 in fees then you would just pay the difference so if your total fess were $23.00 then you would pay a $25.00 minimum that month. Hope this helps!
modernauthorize.com and e-onlinedata
On that minimum above if your fees were $23.00 that month you would actually only have to pay $2.00 as a minimum to get you to the $25.00.....just a little clarification.