Card payment processing
The full chain from authorisation to settlement, at a price you can check line by line.
Every card transaction has three components: interchange to the issuing bank, a scheme fee to Visa or Mastercard, and the processor's margin. Blended pricing hides all three in one percentage.
IC++ shows them separately. That means when interchange changes, the change reaches you, instead of staying in the processor's margin.
What you get
IC++ model
Three lines instead of one opaque percentage.
The major schemes
Visa, Mastercard, Maestro, American Express and more.
Settlement within 48h
T+0 for certain profiles.
Virtual IBAN
Automatic reconciliation per order.
Refunds
Full and partial, at a clear €0.50 fee.
No monthly subscription
You pay only for processed transactions.
How it works
Authorisation
The card is checked and the amount reserved.
Capture
The amount is confirmed when the order ships.
Clearing
The transaction passes through the card scheme.
Settlement
Funds reach your account within 48 business hours.
What having a merchant account actually means
A merchant account is not a bank account but a permission. Permission to take money from cards issued by thousands of banks worldwide, under Visa and Mastercard rules, with protection in a dispute and an assurance that the money will reach you. Behind it sits a chain: you, us as the processor, the acquiring bank, the card scheme and the customer's bank.
For you the chain is hidden, but it shows in two places. The first is approval: the acquiring bank carries the risk if you take money and fail to deliver, which is why it wants to know what your business is. The second is settlement: the money travels through the chain and therefore arrives after a delay rather than instantly.
The difference between providers is mostly two things: how fast they approve you and how transparently they show the price. The technical part is broadly similar almost everywhere today.
IC++ against blended: the difference most people never see
A blended rate quotes one percentage for everything, say 1.5%. It sounds simple and that is exactly why it sells easily. The problem is that this percentage has to cover both the cheapest local debit card and the dearest American corporate one. The provider sets an average with a buffer and keeps the difference on the cheap cards.
IC++ splits the price into its parts: interchange, which goes to the customer's bank, the scheme fee, which goes to Visa or Mastercard, and the margin, which stays with the processor. At BulPays the margin is 0.79% plus 0.05 euro per transaction. The first two are not ours to set; they are published by the schemes and change on a schedule.
The practical effect: if your customers pay mostly with local debit cards, IC++ costs you noticeably less than blended. If you see many commercial cards from outside the EEA, the gap narrows. That is why the first thing we want to see is what cards your customers actually use today.
What goes into approval
The acquiring bank checks three things: who you are, what you sell and how much risk that carries. The first is documents: company registration, identification for the owner and the director, the company bank account. The second is the site or the premises: what is sold, at what price, on what return terms. The third is history: if you have processed cards before, we want the volume and the chargeback rate.
Approval takes 1 to 24 hours with a complete set. Delays almost always come from the same places: a missing document, a site with no published terms, or activity that does not match the description.
On a higher-risk profile, approval may come with conditions: a reserve held for a period, or a monthly volume cap that lifts after a few clean months. We state those conditions up front, not after signature.
Settlement: when the money is actually yours
An approved transaction and a received payment are two different things, and the gap between them is a few days in which the money exists but is not with you.
On approval the customer's bank holds the amount on their card. Your goods have already shipped, but nothing has reached your account yet. At the end of the day we gather every approved transaction, deduct fees, refunds and any reserve, and send the remainder. With BulPays the transfer arrives within 48 business hours of the transaction, and for certain profiles T+0, the same business day, is possible.
In the report you see every transfer broken down: how many transactions it covers, the gross amount, the fees deducted and the refunds offset. That matters for bookkeeping, because the net amount reaches your account while your revenue is the gross.
With several locations or channels, you choose whether the transfer is combined or split per site. Combined is easier to post; split is easier for managing people.
What is in the price and what is not
The full list, with no fees that surface in month three.
| Item | How much | When it applies |
|---|---|---|
| BulPays margin | 0.79% | Per transaction |
| Interchange | Per the scheme tables | Per transaction, does not stay with us |
| Scheme fee | Around 0.03% | Per transaction, does not stay with us |
| Fixed fee | €0.05 | Per transaction |
| Gateway | €15 per month | Waived once monthly fees exceed €15 |
| Account opening | None | |
| Monthly minimum | None | |
| Termination | None |
A chargeback fee applies only on an actual dispute and is stated in the contract.
Questions about this
How are you different from a bank that also offers a terminal?
Mainly on approval speed, on price transparency, and on working with profiles banks decline. If your bank has already given you good terms and you are happy, there is no reason to switch.
Can I have online and in-store on one account?
Yes, and it is the recommended setup. One account, one report, one settlement, with the channels shown separately in the report.
What is a reserve and is it always required?
A reserve is a percentage of turnover held for a period as cover against future disputes. It is not required on most standard profiles. On higher risk it is agreed in advance, with a clear percentage and a clear term.
Will you ask for personal guarantees?
On a standard profile, no. For higher-risk activity the acquiring bank may ask for additional security. We say so before signature.
How long is the contract?
There is no binding long term. If you process nothing you pay no percentage; only the gateway fee remains, and that is waived once fees exceed 15 euro.
What happens if my volume jumps suddenly?
The profile is reviewed, as the monitoring rules require. If the growth has an explanation, a campaign or a season, tell us in advance and the review passes without interruption.
Ready to start accepting payments?
Send us an enquiry and you will get a concrete quote with calculated fees for your business, usually within one business day.