The ClubZap platform can enable clubs to pass on card processing fees for both membership payments and product sales such as fundraising. This is normally done when a club needs to clear a specific amount from the payment.
ClubZap can pass on card fees for both once off and subscription payments (instalments). If you would like this setup please email support@clubzap.com
How are the card fees calculated?
Every club will have a transaction fee associated with payments which covers Stripe and ClubZap fees. This transaction fee is agreed when a club comes onboard with ClubZap with more preferential rates applicable when a club signs up for a multi year contract.
Example: Club on a card fee of 3.25% +10c
Member Type: Juvenile (U11-U16) Costing €120
Goal Amount = €120
Fixed Fee: 10c
Percentage Fee: 3.25%
Calculation:
(Goal Amount + Fixed Fee) / (1 - (Percentage Fee / 100))
= (120 + 0.10) / (1- (3.25% /100))
= (120+0.1) / (1- 0.0325)
= 120.10 / 0.9675
= €124.13
Note: the fees need to be calculated on the total amount billed to the card… not the amount the club are expecting