Common use of Paymentus Service Fee Clause in Contracts

Paymentus Service Fee. For each payment, Paymentus will charge a Paymentus Service Fee as per Schedule A (hereinafter called “Paymentus Service Fee”). For each payment, the Paymentus Service Fee collected will be used to pay the corresponding Credit Card transaction fees or transaction fees associated with Debit Cards or eChecks (hereinafter called “Transaction Fees”) except for the return items (eCheck returns or Credit/Debit Card chargebacks). A schedule of Paymentus Service Fee is attached hereto as Schedule A. The Paymentus Service Fee is based on the Average ▇▇▇▇ ▇▇▇▇▇▇, current payment method mix (credit vs debit vs e-check) and on the assumption that the total Payment Amount collected each month from Non-Qualified Transactions does not exceed 10% of the total card volume of the Payment Amount collected by Paymentus per month for all payment methods (“Fee Assumptions”). Client shall be billed an additional Paymentus Service Fee, referred to as a “Non-Qualified Transaction Fee”, calculated pursuant to the formula set forth below, if the Payment Amount collected each month from Non- Qualified Transactions exceeds 10% of the total Payment Amount collected by Paymentus per month for all payment methods. Paymentus can amend this schedule upon thirty (30) days prior written notice to the Client, if such change is required due to changes in the Visa and MasterCard regulations or changes in Credit Card fees or changes in the Average Bill Amount or changes in Fee Assumptions. Formula to be used for calculating Non-Qualified Transaction Fee: Total Payment Amount of Non-Qualified Transactions minus (10% of the total Payment Amount from all payment methods), multiplied by 2.5% = Non-Qualified Transaction Fee Amount.