What regulatory fees do you charge?

You can see all fees applicable to you on your Merchant Agreement Contract. In general, we apply three types of fees: processing, regulatory and monthly fees. Regulatory fees cover all costs associated with overseeing and implementing regulatory obligations, including filing an annual information return with the IRS and providing you with a corresponding 1099-K form. 

Below you’ll find a description of most regulatory fees that may be charged to your account:

PCI Compliance fee

A PCI Compliance fee (also known as PCI program fee) covers all the services, tools and support we provide to help you meet the requirements set by the Payment Card Industry Data Security Standard (PCI DSS) and thus protect customer and cardholder data. The PCI program offers important benefits, such as data breach protection, and the fees therein cannot be waived. However, such charges can be reduced if you downgrade to the Basic tier.

PCI Non-Validation/Non-Compliance Fee

The PCI Non-Validation Fee is charged if you don’t complete the required steps to confirm compliance with PCI DSS on time, i.e., security standards that protect cardholder data and ensure safe payment processing. To be compliant, you’d usually need to complete a Self-Assessment Questionnaire (SAQ), pass a vulnerability scan (if needed), and submit proof of compliance. 

Regulatory Non-Compliance Fee/TIN Mismatch

The Regulatory Non-Compliance Fee is also sometimes referred to as a TIN Mismatch Fee. You will be charged this fee when there are discrepancies or failures to comply with the regulatory requirements related to your business’ Taxpayers Identification Number (TIN).

Regulatory Reporting Fee

A Regulatory Reporting Fee is an annual fee that covers the costs associated with compliance and reporting requirements imposed by regulatory bodies. This can include providing you with your 1099k or validating your Tax Identification Number/Filing name with the relevant Revenue Service.