What would be the final amount I will get from a sell? (Net Amount after all charges)
There are only 2 different type of charges when you are selling with Item ATLAS
- Application Fee by Item ATLAS
- Payment Processing Fee except Cash On Delivery
So, for example, how much a seller/retailer will get after selling a product cost £500?
Item ATLAS charges Application fee of 0.49% per sell.
Item ATLAS charges application fee to support its' operation. If have an online shop with Item ATLAS, you do not need to pay ongoing cost to keep your shop online, but Item ATLAS has to pay for hosting, domain, data, security, compliance etc.
Payment Processor's Fee
Payment processing fee is a mandatory charge that every business has to pay if they are accepting any other type of payment except cash. Therefore, it means that, all online businesses has to pay a payment processing fee (except when they receive cash on delivery). This charges are collected by businesses like Stripe, Paypal or Square who process the payment, which is transferring money from consumer's/customer's bank account to retailer/seller's bank account.
Whichever payment processor you chose to accept online payment, they will charge a processing fee.
We give an example for sellers who choose to accept Stripe -
Payment Processing Fee by Stripe
Stripe fees are different in different countries. For this example, we will assume that the seller is from UK. Click Here to see Stripe charges for UK
Payment Processing Fee will be 1.4%+20p if the shopper who is buying that product is from UK.
1.4% of £500 is £7 + 20p, which totals £7.20
So, a retailer will get £490.35 from a £500 worth of sell.
Product Price - £492
Shopping - £8
Total Cart Price - £500
== Deductions ==
Application fee by Item atlas - £2.45
Stripe Fee - £7.20
Net Amount Received by Retailer - £490.35