Pricing, fees and billing

Teya's pricing, fees and billing may differ based on the products and services your business has subscribed to, as well as the country in which your business is operating. Teya does not want to keep you bound in a contract but offers you choice and flexibility. You can always refer to our terms of use for further clarification on any of the conditions.

What does pricing refer to?

The term pricing is used when discussing accepting card payments, whether on your terminal or online. Each card transaction undergoes several steps in the background security check, ensuring that it’s an authorised and secure payment.

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The main parties in this process are:

• The bank that issued the customer’s card (the issuer).

• The card house that the card used belongs to, e.g. Visa or Mastercard (the card schemes).

• The institution that processes card payments for your business (the acquirer).

They each participate in this process, and they each apply a fee for processing card payments. The pricing your business agreed upon joining Teya is composed of these fees, and they're applied with each processed card transaction. The common pricing models used at Teya are Blended and IC++.

What do fees refer to?

The fees in this case refer to the card payment transaction fees. With each transaction processed at your terminal or via online payments, a certain fee is applied.

The fee is not one, it always consists of three separate costs:

• The interchange fee that goes to the the card-issuing bank.

• The card scheme fee that goes to the card house that the card used belongs to, e.g. Visa or Mastercard.

• The acquirer commission fee that goes to the institution that processes the card payment for your business.

Once the transactions have been processed, they enter a settlement cycle. With each settlement cycle, a report called daily settlement report is automatically generated in the system and sent out to the email your business is registered with. A monthly settlement report is also generated at the end of each calendar month and sent out to the same email. These are not invoices, but rather a breakdown of fees per transaction or card type that offer more insight into transactions your business processed in the previous period.

What does billing refer to?

The billing applies to some Teya products and services. For example, if you’re using a Teya terminal for card acceptance, a monthly terminal rental fee may apply to your business. Each month you’d receive an invoice for the terminal rental fee, as described into more detail here. If you’re using Storyous by Teya, you will receive invoices as part of your subscription. Read about it in more details here.

What is the criteria to define pricing?

Merchants get charged with the fees to process card transactions as explained above. The transaction fees and monthly fee are agreed with the Sales Agents or Teya Partners beforehand based on your transaction volume, type of business and type of cards (e.g. Visa or Mastercard, national or foreign) used in your terminal.

For Visa and Mastercard we offer the same rate per transaction based on the criteria above. We also accept transactions made with Amex card with a fixed rate 1.9%.

Changes in pricing, fees and billing

Depending on the changes in terms of use and the volume of transactions your business processes, Teya may apply changes in pricing and fees, as well as billing. This means they might increase, but depending on how well your business is doing, they may also decrease. Have in mind that these estimates take a longer period into account and one month would not be enough for a quality estimate.

Learn more about additional Teya products and services:

• Business Account

• Cash Advance

• Teya POS

• Loyalty and Rewards

• Website Builder