Convenience Fee Overview
In a convenience fee pricing model, the consumer makes payment for the sum of the principal amount plus an additional fee (convenience fee) to cover the cost of the transaction. The merchant will not be charged credit card or ACH processing costs. The convenience fee pricing typically covers all costs to Govolution associated with Velocity configuration, deployment, implementation, training, testing, compliance, and customer support and maintenance services. Govolution’s convenience fee pricing models enable merchants to implement a “zero cost” electronic payment solution across the enterprise.
When applying a convenience fee pricing model, it is important to understand that credit card associations have rules governing the use of convenience fees by merchants and third party vendors. Govolution strictly follows the requirements mandated by Visa, when the merchant accepts Visa credit or debit cards. If Visa is not accepted, MasterCard rules and regulations apply. Non-compliance with these requirements places both Govolution and the merchant at risk of card association penalties and fines. Govolution prides itself on staying apprised of all convenience fee rule changes, and will update this page and our merchants accordingly.
To request a copy of our convenience fee white paper, click here >
To see a list of convenience fee-related definitions, click here >
contact us for a convenience fee compliance review >