Cost of using the Verestro platform

• Cost of using the Verestro platform

Cost of using the Verestro platform

What is the cost of using our Fintech-as-a-Service platform?

There are typically 3 types of fees for using the Verestro platform:

1. Implementation - we charge manday fees (650 EUR) connected with implementation. These fees should cover the direct work of our team to build instances of the system for you. We believe this is better than a fixed fee as it is difficult to predict how much work it will take to integrate with your environment and how many change requests we will have to make. We report mandays to you every month and they are invoiced after the month is finished. It depends a lot on your readiness and ability to get aligned with our documentation and services. In the best case scenarios a card issuing project can be implemented at the cost of 10 MD (around 6.000 EUR), but usually the cost is higher because of unexpected customizations or requests. 

2. Maintenance - during project implementation and after implementation, we usually charge monthly maintenance fees. We start raising these fees once the first components of the test environment are created because it is the moment when costs appear. The maintenance fee covers costs of hosting, PCI DSS and security compliance, purchase and update of necessary hardware and software, our devops and IT administration team costs. Typically, these costs range from 4.000 to 15.000 EUR per month, depending on the size of the project and the number of products you use.

3. Variable fees per card, per transaction - there are variable fees usually connected with each Verestro product. Payment and financial services can work only in cooperation with banks, payment organizations (Mastercard, VISA) or other processors and providers. To cover their fees and generate some revenue, we need to charge variable fees. These fees are usually not applicable or are very, very low if we only provide technology services. Depending on the product, the following fees may apply:

• monthly fees per card - covering hosting, security, certifications, SLA, payment scheme and processor costs connected with running the platform. Typically in the range of 0,02-0,3 EUR per card or account monthly
• transaction fees - covering direct payment scheme, processing and banking costs. They vary by transaction type - for example, a transaction in Europe has a lower fee than a transaction on another continent. Typically, for POS and eCommerce transactions ranging from 0,01 EUR to 0,08 EUR per transaction and 0,05%-0,1% of the transaction value. Transactions at ATMs are more expensive because the ATM Service fee (fee to the operator of an ATM) has to be charged - around 0,5-1 EUR per transaction + 0,1%-0,3% of the transaction amount
• currency conversion fees - covering costs of the bank and forex activities. Usually in the range of 0,5%-1%
• IBAN fee - in case you want to use our IBANs, there is a fee for the IBAN creation and incoming transaction. Usually in the range from 0,1 EUR to 0,5 EUR depending on the volume and the bank providing IBANs
• There are additional variable fees that we sometimes need to charge. For example, Apple charges fees per transaction and per card for using ApplePay services, or a certain bank may require a fee from the transaction volume for particular partners
• eCommerce transaction processing fee - in case you use Paytool (our eCom payment gateway), we charge transaction fees ranging from 0,6% for domestic transactions in Poland to 2,7% in case of inter-regional transactions

If you need more detailed information about a particular service, please contact us.