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What Is MMC (Minimum Monthly Charge) and How Does It Work?

Minimum Monthly Charge (MMC) is a charge set by the acquiring bank that sets expectations on how much the business should take in service charges/transaction fees each month.

To explain this clearer:

For example, Mr Customer has an MMC charge in his agreement with the acquiring bank for £25.

In a calendar month, all of Mr Customers transaction fees from each individual payment put through the terminal/online service need to add up to £25 otherwise he will be charged the difference.

How this works with Trust Payments

At the end of each month, the Acquiring Platform will check the processing done on a MID and see how many fees were charged over that month in relation to processed transactional data. Once it calculates the total amount of fees charged, it compares this amount against the Minimum Monthly Processing Fee configured on the system (pre-agreed between Trust Payments and the merchant in the Pricing Schedule Agreement) and sees whether the total fees charged is higher or lower than the MMF. If the total amount of fees is lower than the MMF, it will then charge the necessary amount to bring the total amount of fees in line with the MMF. If the total amount of fees is equal or greater than the MMF then no extra fee is charged. An example of how the Minimum Monthly Processing Fee is calculated:
 

  • A merchant has agreed to a €100.00 Minimum Monthly Processing Fee.
  • The same merchant processes €5000.00 worth of transactions in the month.
  • The merchant (according to the Pricing Schedule Agreement rates) is charged the following fees:
    • Merchant Price Interchange: €60.00
    • Per Tran Amt Fee: €30.00
  • The Minimum Monthly Processing Fee would be calculated as follows:


Total Amount of Fees charged in the month: €60.00 + €30.00 = €90.00
Minimum Monthly Processing Fee rate: €100.00

Minimum Monthly Processing Fee to charge: €100.00 - €90.00 = €10.00 to be charged as MMF

Contact details for your acquiring bank if needed:

AIB

Phone = 0371 200 1436.
E-mail = aibinvestigations@aibms.com
  
Borgun/Saltpay/Teya

Phone = 01283896876
E-mail = support@saltpay.co
  
Clover

Phone = 0345 606 5055.
E-mail = cloverukcustservice@fiserv.com
  
Elavon

Phone = 0345 850 0195. 
 
EVO Payments

Phone = 0203 027 5538
E-mail = uksupport@evopayments.com
 
Paynt

E-mail = support@paynt.com
 
Trust Payments

Phone = 0333 240 6000
E-mail = support@trustpayments.com