Fee Structure

Gateway fee — Mastercard / Seylan Bank

Every charge passed to the Mastercard gateway incurs a gateway fee. The current rate is configured in the platform settings (gateway_rate). This fee is paid to Seylan Bank and ultimately to Mastercard — Absterco does not retain any portion of it.

The gateway fee rate is set by Seylan Bank and can change. When it changes, Absterco updates the settings table. The new rate applies to all future transactions. Previous transactions retain the rate that was active at the time they were charged (snapshotted).

Absterco commission

Each merchant has a commission rate and commission model configured on their account.

Merchant Pays System Fee— the merchant receives less than the charged amount. The customer is charged exactly the requested amount. The difference covers both the gateway fee and Absterco's commission.

Customer Pays System Fee — the customer is charged a grossed-up amount that covers the gateway fee and commission on top of the requested amount. The merchant receives the exact requested amount.

Commission rates are snapshotted on each transaction at the time of charging. A mid-subscription rate change does not retroactively affect past billings.

Currency conversion

All charges to Mastercard are submitted in LKR. If an merchant submits a charge in a foreign currency, Absterco converts it to LKR at the live mid-market rate sourced from ExchangeRate-API at the time of the transaction.

The exchange rate is locked and snapshotted on the transaction record. Subsequent subscription billing cycles may use a different rate if the rate has moved.

Absterco does not charge a separate FX margin. The conversion uses the raw API rate with no spread applied.