Fees configuration

Fees configuration is divided into two parts:

1. Service Fee (The fees that finmid charges platform per transaction)
2. Total Fee / Seller Fee (The fee that the platform charges the buyer/seller per transaction)

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Fees are configured by finmid once the platform is onboarded. The fee structure is assigned based on the initial agreement between finmid and the platform.

The service fee and total fee are configured as being variable (i.e. percentage based).
The total fee can optionally be overridden by the platform upon payment request creation, should they wish to charge a different amount to the seller/buyer.

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There can be multiple platform/buyer/seller fee configurations based on the repayment method (e.g. 3% per transaction for repayment within 30 days, 5% per transaction for repayment within 60 days). See sample fee calculations at Check Payment Request endpoint.