Starting on the week of July 17, we will be streamlining product pricing for different online payment options in order to reduce customer friction caused by displaying online payment processing fees separately. Despite not having commission fees, customers perceive the checkout process as more expensive when they see the pricing breakdown. We want to simplify pricing so customers don't get the impression that shopping via In-App Commerce is more expensive than through marketplaces and the like.
Don't worry! Our platform still remains to be the lowest in terms of fee deduction when compared to other online marketplaces and the like.
In order to expect the same profit, we recommend the inclusion of a standard MDR (Merchant Discount Rate) fee of 2.5% (and 3.5% for GLife) in your current prices.
Is this optional?
While the standard MDR fee will be applied automatically, you may choose to keep your prices as is if you would rather shoulder the MDR fee for your customers.
Is there anything I need to do or activate?
All you need to do is update your prices to reflect this change. You can also apply this automatically in your ChatGenie Dashboard. Simply accept the MDR fee when you receive the pop-up message regarding this on your dashboard.
My prices already consider online fees.
Great! In case you've considered tucking in online fees already, all you need to remember now is the standard MDR fee of 2.5% for all payment options (and 3.5% for GLife transactions).
Any questions? Message us at email@example.com to learn more about this change.