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Are there any minimum transaction amounts required by credit card companies?
Are there any minimum transaction amounts required by credit card companies?

Most credit card companies require transactions to be at least $1 or more

Eric Knopf avatar
Written by Eric Knopf
Updated over a week ago

Most credit card companies charge typically ~3% + a per transaction fee of 30 cents and sometimes also a monthly fee or statement fee. So if you are having transactions in very low dollar amounts, you must be careful as you your payouts could be devoured by fees. For this reason, payment processors require the transaction amount to be over $1 and some require that to be higher. Wepay, our preferred payment processor, requires $1 or more for the total transaction and charges 2.99% flat of the transaction without any other fees.

TicketSpice does not require a minimum transaction amount but adjusts the fee amount for lower priced tickets and transactions.

When you are selling tickets using our partner payment processor Wepay and the price fo the tickets are $5 or less per ticket, the TicketSpice fee drops to $0.49 a ticket. Additionally when using Wepay and when the transaction charged to the credit card is less than $5, the TicketSpice fee drops to 20% of the amount charged.

When using other payment gateways, the standard $0.99 per ticket applies no matter the price of the ticket and may be subject to additional 3rd party processing fees. Contact our team if you have questions about pricing your event.

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