Deducting a percentage of the settled transactions and only depositing a portion of each settlement.
Reverse My Fees or Surcharge Merchant Accounts- the daily discount is the surcharge amount charged. For example, if the surcharge is set at 3.95%, that is the daily discount. Daily discount is option on Reverse My Fees accounts. Many merchants prefer daily, because they have such a small amount deducted for their monthly fees.
At Stillwater Payments, some clients on an awesome merchant account, like the daily discount, because it reduces the amount deducted at the end of the month. The daily discount is calculated by the interchange fees assigned for the cards accepted by the merchant. These fees are received once we submit the settlement for payment. At the end of the month, the transaction fees and monthly fees are deducted from the merchant’s DDA.