Now, you will familiarize yourself with some of the concepts that will help you better understand the payment and charges processes within your Team Peach 🍑 Private Site.
💡 What is a processing fee? It is the cost to process payments and credit cards. (Any business that accepts credit or debit cards charles a fee for every transaction no matter the type of industry. This is a matter of the company Epoch).
💡 Epoch: is a company in charge of processing payments for explicit content. This type of content has a higher processing fee, since it is a higher risk market.
💡 Processing fee expenses: they are covered by both parts, these expenses are deducted before the earning are split, i.e, if 10 USD come in and the processing fee Is 1 USD, the earnings are divided accordingly after covering the costs of payment processing (Fee).
💡 What is a reimbursement?: If a uses asks for their money back, many credit cards allow the user to claim it back within 30 days (this period may be longer in different countries).
💡 What are chargebacks?: If a uses says they have never made a purchase and that they were victims of a scam or fraud, they file for a chargeback. (This process sees that the money goes back into the account and normally carries out a penalty of $40).
💡What are adjustments? They reference financial adjustments that Epoch inspects to make sure al the memberships are charged successfully.
💡 Process Payment Fees: it is the % charged by platform to process payments.
- PayPal: 11.5% per transaction.
- Credit and debit card: 13.1% per transaction.