Knowledge Base

How much will I Pay?

Depending on your Wallet Account type, youll pay a Payment Service Fee that starts at 4.0% of the total processed amount plus 30¢.

To the expressed values you must add the current VAT. By law, Credit card transactions are subject to:

• 15% VAT Withholding on the VAT of the sale.
• Income withholding of 1.5% on the base value of the sale.
• 0.2% ICA withholding on the base value.
• In the PSE payment method, the commission value in transactions less than $ 60,000 pesos is USD$ 1 + VAT.
• The withdrawal of funds or transfer of funds from virtual account to bank account has a cost of USD$ 2 + VAT.

How will I pay for this?

The Alliance Pay Platform transfers credits worth the the paid amount from your customers' wallets to your wallet, minus the payment processing fees & withholdings.

Are there any additional fees?

There are no additional fees beyond the prices noted above. The plan prices automatically include the plan features with the exception of Account Updater and eCheck payments. Account Updater may incur additional costs, and the eCheck plan comes with additional services. The Alliance Pay Platform does not have a contract or early termination fees.

What is the difference between a payment gateway and a Merchant Financial Service Provider (MFSP) ?

A merchant financial service provider is a financial institution or bank account used by a merchant specifically for the purpose of collecting proceeds from a consumer bank account or credit card payment transactions.

A payment gateway is the infrastructure that enables you to accept credit cards and electronic check payments from websites, terminals or mobile devices. Payment gateways also provide merchants with transaction management, reporting, and billing services.

What is the difference between a Card Present (CP) wallet account and a Card Not Present (CNP) wallet account?

You can use a Card Present (CP) wallet account to receive payments at a physical location where customers physically present a form of payment to you at the time of the transaction. By contrast, a Card Not Present (CNP) wallet account can be used to receive payments electronically (i.e., online payments), or in situations where consumers aren’t physically present at the time of the transaction.

Is my business bank account the same as a wallet account?

No. A wallet account is a type of internal account that allows businesses to accept payments by payment cards or other payment methods, which are typically debit or credit cards. It’s similar to a channel for your business to get paid or issue refunds. A wallet account is unique to you and your business. When you apply, our compliance agents will look at your industry, your processing history (if any), your personal credit, your business’ creditworthiness, and other factors. Once approved, your business can start accepting payments.

Is my PayPal account a wallet account?

PayPal is not a wallet account. It’s a third-party processor, and it aggregates all of its sellers’ accounts into one large wallet account. Because you are not the sole owner of this account, it cannot be used with the Alliance Pay Platform.

What forms of payment can you help me accept?

We offer a wide variety of payment options ranging from credit cards to cash collection entities all over the world.

How long does it take for the funds be to be deposited into my bank account?

The Merchant Financial Service Provider (MFSP) facilitates transferring funds to your bank account. Funding time can vary depending on your MFSP. The industry average funding period is between three to five business days.

How long does the payment approval process take, and what is required?

Upon proper completion of the application, your Alliance Pay Platform account is automatically creates a Wallet Account for your Merchant; however, in order to accept credit cards, you must have a wallet account, and approval for that account can be immediate or take from one to ten business days or more depending on several factors, including industry, credit history and responsiveness.
If you have an existing wallet account, you can update your wallet account with the parameters provided from your MFSP and be ready to transact within minutes.
If you are applying for our "managed" solution where we help to provide you with the wallet account, the approval process could be as quick as one hour if the application is "auto-approved".

What is a batch fee?

Once a day, Alliance Pay Platform takes all your transactions from the previous 24-hours and aggregates them into a “batch” which is then sent off to the processing networks. The Daily Batch Fee is the fee assessed for this process.

Are there contract fees for early termination?

No, the Alliance Pay Platform does not have a contract fee for early termination.

What is a chargeback?

A chargeback is a charge reversal initiated by the cardholder’s bank on behalf of the cardholder.