Credit card processing fees
MyVR offers competitive payment processing rates for transactions processed through our merchant partner, Stripe. To view your current rate, go to the installed Stripe Application and click on "Payment Settings" for a list of credit card types and fees.
The standard credit card processing fees for common domestic cards using Stripe is 2.99% + $0.30. This can vary depending on card type (American Express is more) or based on the origin of the card (international cards are more).
There are discounts for payment volume processed:
2.99% + $0.30 --- Under $100k
2.89% + $0.30 --- $100k to $250k
2.79% + $0.30 --- $250k to $500k
2.69% + $0.30 --- $500k to $1MM
2.59% + $0.30 --- $1MM to $2MM
2.49% + $0.30 --- $2MM to $3MM
2.39% + $0.30 --- $3MM to $5MM
2.29% + $0.30 --- $5MM to $10MM
inquire --- $10MM+
Channel management commissions
MyVR charges 1.49% for all bookings received through fully integrated channels. This is exclusive of credit card processing and is for channel management.
Stripe fee breakdown
When looking at the Stripe payment details, there is a "Fee" field that is broken down into "Stripe processing fees" and "Application fees." The way Stripe breaks these down may be confusing. Please consider the total fee as a bundle of fees related to the booking.
In this example, the payment was for a HomeAway booking made on a fully integrated MyVR listing.
The guest was charged $874.69 and the total fees for credit card processing and for channel management are $39.48.
The credit card processing fees: ($874.69 * 0.0299) + $0.30 = $26.45
The booking commission in this case is: $874.69 * 0.0149 = $13.03
Total fees: 26.45 + 13.03 = $39.48