Please refer to the step-by-step breakdown below for the formula that computes the fees, based on an exchange rate of 1 SGD to 0.73 USD.
For settlement in SGD
Gross Amount Captured = 100.00 SGDFees (MDR+ Refund fee) = MDR (100*2.85%) + (0.40 USD) = 2.85 SGD + 0.40 USD = 2.85 SGD + 0.55 SGD = 3.4 SGDNet Amount = 100.00 – 3.4 = 96.6 SGD
For settlement in non-SGD
Gross Amount Captured = 100.00 USDFees (MDR+ Refund fee) = MDR (100*3.3%) + (0.40 USD) = 3.30 + 0.4 = $3.7Nett Amount = 100.00 – 3.7 = 96.3 USDHope this explains
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