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Payment methods fees

Payment methods fees

. 1 min read

| Image by Vu Nguyen via Unsplash Copyright-free

Introducing our new feature: payment method fees - a crucial development to enhance the user experience. It allows users to choose the cheapest payment method, which makes the our prices more competitive on the remittance market.

So what does it enable the customer to do?

  • Recoup costs associated with more expensive payment methods. We pass a proportion back to the customer.
  • This is important for corridors such as Singapore, where high costs means that we had to disable certain payment methods.
  • Allow the introduction of ACH. It's a slower payment method, and hence we want to charge lower costs for it.

What's changed?

Payment methods differential fees required us to make UI changes on the calculator screen. Adding a disclaimer was required to indicate that fees are not final at this stage of making transaction, we changed had to change some text labels. By default we select the lowest fee for the customer. The ability to change the payment method is available on the next page.

On the payment method page the fees for the various payment methods are shown. The customer can choose the one they prefer. This page now contains footer which is responsible for displaying detailed information about transaction. The total to pay is calculated automatically based on the send value and selected payment method fee.

What's next?

  • Create UI to configure payment method fees (currently we’re using REST API)
  • Reorganisation of calculation screens: Pay-In Selection on the Calculator project