On Peerwallet, there is a fixed fee of 1% on all transactions which is charged. Since Peerwallet is P2P, the Peerwallet's fee is charged from your balance.
Example: If a seller wishes to receive $50 from a user, Peerwallet will levy a 1% fee on both the merchant and the seller. This fee will be subtracted from their Peerwallet balances. In the given example, the seller will receive $45.5 in Peerwallet funds, and the merchant will also incur a 1% fee deducted from their balance.
This fee-sharing mechanism applies to other services offered on the Marketplace as well. For instance, when purchasing a virtual card, both the buyer and the seller of the virtual card bear the associated fees.
The minimum Fee on Peerwallet is 0.3 in the selling currency.
Example; if a user want to purchase a card worth about $5 for the total payment to be made, 1% fee is $0.05, in this case, $0.3 would be charged instead.
It would be 0.3 of the actual selling currency.
The gateway fee is the cost associated with using a specific gateway. Since Peerwallet partners with approved and licensed vendors to extend its reach, these vendors establish their own fees when your customers utilize their gateway services. When customers check out through a vendor's gateway, they are responsible for both the gateway fees and Peerwallet's fee.
It's important to note that the fees set by vendors for their gateways are not fixed and may vary depending on the specific vendor. As a seller, if you prefer gateways with lower fees, it is advisable to activate Peerwallet's integrated gateways. However, if you desire a broader range of payment options and increased reach, you may also choose to enable vendor-specific gateways.