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E-Commerce Fees

E-Commerce Fees

QuikPAY fees1 Cost(s)
Server and application setup (one-time fee) $900
Server hosting fee (per application) $50/month
Charge for credit card $0.25/transaction
Charge for e-checks $0.13/transaction
$0.98/return
$1.38/resubmitted
Bank & gateway fees2 Cost(s)
New merchant ID (one-time fee) $25
Merchant ID $5/month
Internet service fee $20/month
Discount rate3 MasterCard/Visa: 1.8452% ($5/month min.)
Discover, standard: 1.67% (no min.)
Discover, business/corporate: 2.171% (no min.)
American Express: 2.50%
Authorization fee MasterCard/Visa: $0.0195/transaction
Discover: $0.11/transaction
American Express: $0.11/transaction
ISAM security fees Cost(s)
Initial e-commerce application audit $75/hour (average 8-10 hours for QuikPAY applications; 15-20 hours for vended applications)
Annual reaudit of existing e-commerce application $75/hour (average 4-5 hours for QuikPAY applications; 10-15 hours for vended applications)
1 All QuikPAY fees are invoiced monthly from Nelnet Business Solutions and are allocated to each department. 2 Bank fees are calculated monthly. Bank fees are automatically charged to the department MoCode/Account by the campus or Hospital Accounting Services department. 3 The discount rate is a per-transaction cost. In addition to the discount rate, MasterCard and Visa transactions are subject to additional fees called interchange fees. These are fees that the credit card issuing bank charges when a merchant accepts a certain type of MasterCard or Visa card. These fees can vary depending on the type of card accepted. Interchange fees can add 0.20% - 0.30% to each MasterCard/Visa transaction, whereas some cards have little or no interchange fees.

Reviewed 2013-05-23.