How Quick Chips calculates Cost of Credit

The Cost of Credit is calculated based on  the tier information that corresponds to the selected Tender Type and the transaction amount. The tiers can be edited from the management dashboard (LINK). 

Using the example table below, payouts up to $5 will be assessed the lowest tier ($1.5 + 1%), between $5-$50 will be assessed the next tier of ($0.25 + 0.35%), between $50-$75 will be assessed the next highest tier of ($5 + 0%), and above $75 will be assessed the final tier ($5 + 1%).

The Cost of Credit is calculated in real-time as the amount is entered on the Clover device.