1% Pos Charge Clarification

amirahamirah Posts: 1Member
I think I know the answer but to clarify, I need to ask about the POS charge Payoneer/MasterCard charges for every purchase. Please reply with Yes or No.

1) 1% POS charge is charged for transactions in USD.
2) When purchase occur in other currencies, up to 3% can be charged.
3) 1% is charged whenever the transaction occurs out of Belize, even if the transaction occurs in United States or websites in United States.

So, what is the charge when we buy from websites which are not based in United States but accept USD payments?

Thank You!

Comments

  • NissimNissim Head of Community Posts: 4,013Administrator ✭✭✭✭✭✭✭
    edited April 2012
    Hi Amirah,

    Thank you for joining our forum!

    In regards to your questions, Payoneer does not have a charge for POS transactions. When you make a purchase in a foreign currency (non-USD) there is a conversion charge of up to 3% above MasterCard's official currency conversion rates.

    What you are referring to is called a "cross-border" fee, which is not something Payoneer directly imposes but applies to all credit/debit cards issued by MasterCard (and other major credit/debit card companies). As you mentioned, this would apply to USD transactions made in a country outside that of the issuing bank (our bank is Choice Bank in Belize). The exact amount is determined by MasterCard and the issuing bank, and would be between 1-3%.
    Nissim
    Director of Community at Payoneer
Sign In or Register to comment.