MERCHANT ACQUIRING
OPG currently provides a facility through Alliance and Leicester to collect payments by debit or credit card enabling OPG customers to be flexible in the way they deal with their own customers.
The key service features are:
- Payments received from your customers by debit or credit card are credited directly to your OPG account.
- Customers can use "over the counter" terminals or receive payments by telephone, mail ("Cardholder Not Present" transactions) or over the internet.
- All credits collected are swept to OPG on transaction day + 2 and shown as a single credit to your OPG account (i.e. transactions on a Monday will result in cleared funds in your OPG account on Wednesday).
- Customers receive monthly statements showing usage per terminal, total number and value of transactions by type, and other management information.
- Charges are deducted monthly, along with other OPG charges, directly from your account.
Merchant Acquiring charges are calculated as follows:
- Debit card fee: Unit price per transaction.
- Credit card fee: Percentage of transaction value.
(A premium applies to "Cardholder Not Present" transactions and for processing all Corporate, Business and Purchase cards.)
- Terminal fee: Monthly fee for each terminal and PIN pad + VAT.
Customers decide on the "floor limits" above which individual transactions must be authorised with the card issuer, or if authorisation is required on all transactions. Transaction charges are determined by the speed of settlement required, business volume, transaction value and floor limits.
