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Question about calculators

 
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twva
New Merchant


Joined: 28 Jun 2022
Posts: 1

PostPosted: Thu Jun 28, 2022 3:52 pm    Post subject: Question about calculators Reply with quote

It seems like the calculators http://www.merchant-account-services.org/resources/calculators/true-third-party-comparison.php and http://www.merchant-account-services.org/articles/tmpvstpp-calculator.php give the same 12-month total for true merchant accounts whether there is a gateway monthly fee or not.

Example:
Average ticket: 30
Transactions: 10
Setup Fee: 0
Discount Rate: 1.79
Transaction Fee: 0.25
Monthly Fee: 10.00
Gateway Setup Fee: 0
Gateway Monthly Fee: 14.95 or 0

Calculator returns 214.44 for 12-month total regardless of Gateway monthly fee.

Is this a bug or am I missing something?
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Administrator
Site Administrator


Joined: 18 Jan 2021
Posts: 19

PostPosted: Thu Jun 28, 2022 11:48 pm    Post subject: Reply with quote

Thank you for pointing this out for us. There was a bug in the system and that fee wasn't being calculated. Since the calculator is the same in both places they shared the same bug. We made the simple fix and now they calculate the gateway's monthly fee properly.

We appreciate your help with this. Hopefully that calculator, and all of our resources, are helpful to you.

Thank you again.
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