Why are my processing fees 6+% when it is supposed to be 3.6% + 0.5 sgd?

Why are my processing fees 6+% when it is supposed to be 3.6% + 0.5 sgd?

Jack134
Explorer
47 0 12

Hi guys i would like to ask why my processing fees are so high (6.3-6.6%) when according to shopify it is supposed to be 3.6% + 0.5sgd. As you can see here my charges are $294.31 and my processing fee is $19.01 which is a whopping 6.45%! Im from singapore for context. Can someone explain this to me?

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Replies 2 (2)

TrueProfit_Jen
Shopify Partner
40 1 9

Hello @Jack134 ,

 

Shopify's standard transaction fees for online credit card payments in Singapore are typically comprised of two components:

  1. Percentage Fee: This is a percentage of the transaction amount. As you mentioned, Shopify's standard percentage fee in Singapore is 3.6% for online credit card payments.
  2. Fixed Fee: This is a fixed amount applied per transaction. For Singapore, the fixed fee is SGD 0.50.

You can see the breakdown of the fees in your Shopify account by go to Settings -> Payment Providers -> select the payment gateway you are using

 

Hope this can help.

Jen from TrueProfit

TrueProfit - The Ultimate Real-time Profit Tracker For Shopify

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Greta
Shopify Staff
1195 123 151

Hi, @Jack134!

 

Thank you for your post. I recommend contacting our live support team through the Help Center so we can look into this payout further. I'm unable to provide account-specific support over the Community Forums, but by logging in through the Help Center we can investigate and see if there were any issues on the backend. 

 

Please let me know if you have any other questions or need assistance with getting in touch! 

Greta | Shopify 
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