MartFame’s Vendor Payment & Commission Explained (This is for illustration purposes)
(Vendor Product Price) (Shipping Price) (Secure Payment Checkout Fee (added to the product price to be paid by Customer))
₦150 ₦10 ₦10
Total Product Price at Checkout: ₦150 + ₦10 + ₦10 = ₦170(Paid by Customer)
Flutterwave (Payment Processor) charges 1.4% of the total checkout value: ₦170 – 1.4% = ₦167.62
Total Charged by Flutterwave = ₦2.38
₦167.62 –₦10 (Secure Payment Checkout Fee (added to the product price to be paid by Customer)) = ₦157.62
₦157.62 – 2.1% (MartFame’s Commission) = ₦154.31
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Summary
Customer Pays: ₦160 + ₦10 = ₦170
1.4% Flutterwave Payment Processing Commission = ₦2.38
2.1% MartFame’s Commission = ₦3.31002
Flat Rate Secure Payment Checkout Fee = ₦10
Vendor/Seller Receives = ₦154.31
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