PSYC Corporation (PSYC)

[FreddyJ_30]

Also found this when trying to figure out how MTrac expects to see revenue from Cultivate:

Explanation of Cultivate Processing Fees


The following fees will be listed on the applications per transaction:

Debit Card Processing Fee 4% + 30 cents
Credit Card Processing Fee 4% + 30 cents
Cultivate SAAS Fee 2.95%

The above fees are offset by passing a 4% advanced privacy fee on each customer transaction. The merchant keeps 100% of this fee. Net Effective Rates are calculated as follows:

Net Effective Rate, Debit = 4% processing fee + 2.95% Cultivate Fee - 4%
Customer Privacy Fee = 2.95%

Net Effective Rate, Credit = 4% processing fee + 3% wallet fee + 2.95% Cultivate Fee – 4% Customer Privacy Fee = 5.95%. Note: for credit card transactions only, there is a 3% “wallet fee” which is the fee for using the blockchain technology/closed loop echo system. It is not applied for debit card transactions.

Example – Debit Card
Sale Amount $100
Sales Tax 8% $8
4% Privacy Fee $4.32
Total Amount Processed $112.32
Debit Card 4% + 0.30 ($4.62)
Cultivate SAAS 2.95% ($3.31)
Net Settled $104.39

Example – Credit Card
Sales Amount $100
Sales Tax 8% $8
4% Privacy Fee $4.32
Total Amount Processed $112.32
Credit Card 4% +0.30 ($4.62)
Wallet Fee 3% ($3.36)
Cultivate SAAS 2.95% ($3.31)
Net Settled $101.03