Glossary
What do the technical terms mean
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Payment does not have to be complicated. However, there are technical terms that are often not common.
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Set-up fee
The setup fee is a one-time fee which is charged for the setup or activation. Can also be understood as a processing fee for the application of a credit card acceptance contract. If the acquirer does not conclude a credit card acceptance agreement, the setup fee is not charged. However, there are also providers, such as Worldpay, who still retain a part of the setup fee for the effort involved.
Set-up fee and credit card acceptance agreement
The set-up fee can also be understood as a processing fee for the application for a credit card acceptance agreement. If no credit card acceptance agreement is concluded by the acquirer, this set-up fee is not charged. However, there are also providers, such as Worldpay, who nevertheless retain a part of the set-up fee for the effort.