What does credit card rate mean? 3.1% + 50c

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New Member
1 0 0

Hi, I'm a new seller from Singapore region, 

 

The shopify payments says "lower credit card rates - 3.1% + $0.50 (online)"

 

If I'm selling a product at $50, how does it work?
 
Does it mean for each other, Shopify will get $50 * 3.1% + 50 cents? -> $2.05
And the remaining $50 - $2.05 = $48.95 will go to my bank account?
 
Thanks in advance.
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Trailblazer
238 11 16

Yeah, I think so. It means with each your order with a credit card, you will be charged 3.1% value of the order plus 50 cents.

By the way, if you have any trouble with Shopify while doing business, these guides for Shopify business would be useful

Hope it helps!

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