It is common to add a convenience (processing) fee to your page to cover your credit card fees. There are two ways to do this in a RedPodium page:
Convenience Fee, or
Our Dynamic Fee Calculator.
Add A Convenience Fee
Add a line item field to your page.
Note: This field is plugged in by default when you select a template. So if you're already seeing it there, simply click the pencil to edit.
Label it to match your preference. Then set the fee (or fees) at whatever amount you'd like to charge.
If you'd like the percentage to only calculate on certain fields, you can add that under advanced options.
Note: This is the ideal way to add a sales tax (or GST)
Now the fee will be charged to registrants when they check out.
Dynamic Fee Calculator
By default, a standard RedPodium page lets you control all pricing and fees. You can add as many fees on the registration page as you like and keep all of it. We'll just charge you our flat 99 cents a registration + payment processing fees. This is great for most as it allows the event organizer to set and mark up all the fees and keep the difference.
We now have an alternative way for those using Webconnex Payments. This new feature calculates all applicable fees on the registration page and passes them on to your buyer.
The result is you get the face value of the registration. For example, if you sell a $100 registration, the system will calculate the payment processing fees and RedPodium fees and you will get a deposit of $100.
This feature will make some bookkeepers happy in reconciling registration revenue in face value amounts rather than after payment processing amounts.
Please scroll to the bottom of this article for a sample of the calculations with and without this feature enabled.
Setup The Dynamic Fee Calculator
Step 1: Edit the page you want to enable this feature on,
Step 2: Click the Settings tab,
Step 3: Select the checkbox that reads, "Calculate and Pass on Fees to Customer"
Step 4: Save and Publish.
Here is the full process:
Need To Knows
This is only compatible with Webconnex Payments as they allow us to subtract fees from the transaction directly. If you are using your own processor, this feature will charge the buyer more, but the full transaction amount will go to you and we will not be able to provide deposits net of fees.
When this feature is turned on, you will receive a deposit in the amount of the face value amount of whatever is available on the page. If you want to add additional fees and markups, you receive those amounts in full.
In order to reliably issue face value deposits across all uses of RedPodium including donations, merchandise, and coupons, the payment processing fee is increased by .5% to properly cover every scenario and calculation.
Sample Calculations
First, here is how the math works for a standard registration page for 2 registrations at $25 each:
Standard Page | Customer is Charged | Net Deposit After Fees |
2 Registrations at $25 Each | $50 | $46.53 |
The customer is charged $50 for the face value of the registration. You receive $46.53 after 2.99% payment process fee and 2 x $0.99 cents RedPodium fee.
Now, here is an example with Calculate and Pass on Fees turned ON which automatically increases the order total for buyers.
With Fee Feature Enabled | Customer is Charged | Net Deposit After Fees |
2 Registrations at $25 Each | $53.73 | $50 |
The customer is charged $53.73 after fees are calculated and added to the page. You receive the face value of the 2 x $25 registrations for $50. The payment processor removes 3.5% + 2 x $0.99 cents for a total of $3.73 in total fees.
FAQs
Does RedPodium keep a portion of this fee?
Nope! You keep 100% of this fee and you can set it to any amount. It simply tacks on to the total so you can cover your cost.
What fee should I set to cover the cost of using RedPodium?
RedPodium is $0.99/registrant + 2.9% + $0.30 (if you're using Webconnex Payments). But remember, the fees are charged to the total sent to the processor. So you will want to adjust your numbers slightly to cover your costs completely.
How is the fee handled when I give a registrant a 100% off coupon?
If the fee field is below the coupon code box, it will still be charged. If you'd like to comp the fee, simply move the field above the coupon code box. OR you can set an action to hide the fee when a valid coupon is applied.
FAQs
Does RedPodium keep a portion of this fee?
Nope! You keep 100% of this fee and you can set it to any amount. It simply tacks on to the total so you can cover your cost.
What fee should I set to cover the cost of using RedPodium?
RedPodium is $0.99/registrant + 2.9% + $0.30 (if you're using Webconnex Payments). But remember, the fees are charged to the total sent to the processor. So you will want to adjust your numbers slightly to cover your costs completely.
How is the fee handled when I give a registrant a 100% off coupon?
If the fee field is below the coupon code box, it will still be charged. If you'd like to comp the fee, simply move the field above the coupon code box. OR you can set an action to hide the fee when a valid coupon is applied.