Main Subject - Business

These are some of the fees that a merchant will pay when they process credit cards through a typical merchant accunt…

Address Verification Fee
The fee charged to the merchant

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

to perform address verification. This usually happens when a merchant has to key in a transaction if the mag stripe does not work.

Chargeback Fee
This is the fee charged by a

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

bank when a chargeback is issued to a merchant. This varies from $15.00 – 30.00 per transaction. (Plus the actual amount of the chargeback sale)

Check Guarantee Fees
Check G

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

uarantee fees are basically structured similar to credit card processing fees. There is usually a percentage rate, transaction fee, statement fee, monthly minimum, and application f

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

ee.

Check Verification Fees
Check verification does not guarantee checks. Check verification checks whether the check writer has a history of writing bad checks. There is usua

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

lly not a percentage fee associated with check verification

Debit Fees
Debit fees vary based on the debit network that issues the debit card. Debit fees are comprised of netwo

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

rk fees and transaction fees.

Discount Rate (Per Transaction)
The discount rate is the fee charged by the acquirer to the merchant to process each transaction. This rate is de

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

pendent upon several factors, but usually the rate is either a retail (card present) merchant or a MOTO/Internet (card not present) merchant. (If the business owner is set up on a t

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

hree tier system) Retail Rates are lower because they present less risk than card not present transactions. Card not present rates are higher due to the increased risk exposure to

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

the bank.

Internet Payment Gateway Fees
A monthly fee associated with maintaining a merchant’s secure payment gateway. Usually there is a setup fee, a monthly gateway fee, an

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

/or a transaction fee. The monthly gateway is usually between $10.00-$25.00, and the transaction fee ranges from .05 - .15 per sale.

Investigation Fee
This fee is charged by

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

some banks to investigate or research merchant transactions.

Monthly Fee
This is the monthly fee charged to the merchant in order to produce a monthly statement of transaction

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

s and will cover customer service. This statement will usually breakdown their total sales by day, average ticket amount and total charges.

Monthly Minimum Fee
This is a set m

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

inimum the bank charges each account. Monthly minimum fees range from $10.00 - $25.00. That means if the merchant doesn’t process any transactions, the bank will still receive the m

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

onthly minimum fee income in order to service the account. Let’s look at a merchant with a monthly minimum of $25.00. If they processed $1,000.00 in charges and the discount rate

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

is 1.65%, the monthly discount fees will be $16.50, they did not reach the $25.00 minimum, so they will be charged the difference of $8.50. If they ran $10,000 in sales at a 1.65%

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

discount rate, the monthly discount fee would be $165.00, so they would not be charged the $25.00 monthly minimum fee.

The monthly minimum only comes into play for low sales volume

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

merchants.

Retrieval Fee
Fee charged to process a retrieval request.

Transaction Fee
This is a fee charged to the merchant to authorize a transaction.

Voice Authorizat

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

ion Fee
This is the fee charged if the merchant calls to Visa/MasterCard for a manual voice authorization.

Wireless Fees
Wireless terminals require a wireless network to

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

process transactions. The monthly wireless access fees range from $15.00 – $30.00 and additional per transaction fees can range from .05-.35 per transaction depending on the carrier

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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