Yes, payment processing fees can change. They can be added, removed, reduced, or increased with proper notice and in compliance with the industry Code of Conduct .
Some fees, but not all, are subject to taxation. Any fee designated as a ‘Service Fee’ is subject to taxation.
A service fee is typically associated with the cost of providing a type of service. This can mean access to a credit payment network, services such as chargeback representation, and so forth.
Credit card processing fees are applied to all credit transactions and are subject to the corresponding interchange fee rate (which is a percentage of the total transaction). Interac is a form of debit (direct bank transaction) that typically has a fixed fee.
Equipment/Rental fees
These are fees Moneris charges for the use of terminals and other equipment that may be provided. Much like a modem rental fee you would pay to your internet provider, these fees ensure devices are always kept up to date, secure (PCI compliant) and upgraded as newer devices become available.
Interac® fees
Fees applied by Interac on transactions. These are typically fixed cost fees vs. a percentage of the total amount being processed.
Interchange fees/rate
Fees applied by the card brands; these fees are variable based on transaction type and card type, and are typically a percentage of the total transaction.
Moneris Transaction fee
A fee applied to each transaction, that is the cost of using Moneris services for payment processing. These fees are measured as either cents per transaction or as basis points (hundredths of a percent).
Network Assessment fee
A fee card brands apply for access to their network for the purposes of processing a transaction.
Processing fees
A general term that refers to fees applied by card brands, acquirers, and processors.
Interchange Plus
A fee structure where an acquirer, such as Moneris, applies a fixed mark-up on the interchange rate applied by the card brands. This is typically measured in basis points (hundredths of a percent) when applied to the interchange rate for a given transaction.
Flat Rate
A fee structure where there is a fixed rate applied to all transactions regardless of credit card type. Generally, flat rate pricing is ideal for smaller businesses that want cost certainty in their payment processing costs.