Please refer to the step-by-step breakdown below for the formula that computes the fees, based on an exchange rate of 1 SGD to 0.73 USD.
For settlement in SGD
Gross Amount Captured = 100.00 SGD
Fees (MDR+ Refund fee) = MDR (100*2.85%) + (0.40 USD)
= 2.85 SGD + 0.40 USD
= 2.85 SGD + 0.55 SGD
= 3.4 SGD
Net Amount = 100.00 – 3.4 = 96.6 SGD
For settlement in non-SGD
Gross Amount Captured = 100.00 USD
Fees (MDR+ Refund fee) = MDR (100*3.3%) + (0.40 USD)
= 3.30 + 0.4
= $3.7
Nett Amount = 100.00 – 3.7 = 96.3 USD
Hope this explains
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