<Enhancements to the existing product>
While calculating a differentiated fee in real-time, WAY4 can now take into account the contract turnover or number of certain types of transactions for the period. We added this option for both issuing and acquiring products. This comes into its own when several possible tariffs could apply to a single transaction, which has just hit the volume threshold. The most typical use case is a volume-based cash withdrawal fee.
Example of a calculation algorithm:
On March 28th a customer withdraws 500 USD from the ATM. During the current reporting period (March 1-31) this customer has already withdrawn 1600 USD. How will WAY4 calculate the fee for the new transaction?
If the issuer has configured the following tariffs on cash withdrawal:
Up to 2000 USD during the period = 1%
More than 2000 USD during the period = 3%
Minimal fee = 2 USD
here is the dynamic fee calculation:
=> Final fee applied in real-time = max(400*1%+100*3%, 2)= 7 USD