Glossary
Setup fees
Setup Fees refer to the initial charges incurred by merchants when establishing a merchant account to facilitate payment processing. These fees cover a range of services and components necessary for setting up the infrastructure required to accept and process payments. Key elements of setup fees typically include:
Setup fees are typically a one-time expense, distinct from ongoing costs such as transaction fees, monthly service fees, or maintenance fees. These initial charges can vary significantly depending on the payment processor, the complexity of the merchant's needs, and the specific services or equipment required.
By covering the essential components needed to establish a fully functional payment processing system, setup fees play a crucial role in enabling merchants to accept a variety of payment methods, enhancing their ability to serve customers and grow their business.