This article describes how credit card limits can be implemented to place a limit on the amount of money bidders can pay using a credit card with atgPay.
This article contains the following sections:
About Credit Card Limits
Auction houses have the option of setting up a credit card limit on events using atgPay. This limits the amount of money bidders can pay using a credit card.
- The Credit Card Limit only applies to the total hammer price, lot fees, and buyer's premiums on the bidder's invoice, and does not include shipping, taxes, or processing fees.
- For example, if the credit card limit for the event is $500.00 and a bidder wins an item for $450 (with a 10% buyer's premium), but their total after taxes is $575, they will still be able to pay their invoice via credit card as their hammer plus buyer's premium is below the credit card limit of $500.
- Invoices over the Credit Card Limit will not be eligible for Autopay, as Autopay currently only works with credit card payments, not bank transfer (ACH) payments.
- Invoices over the Credit Card Limit will not be eligible for Auctioneer Initiated Payments, as Auctioneer initiated Payments currently only work with credit card payments, not bank transfer (ACH) payments.
Enabling Credit Card Limits
- Enable atgPay on the event.
- Select both Credit Card and ACH as Allowed Payment Methods.
- Check the Credit Card Limit checkbox.
- Enter a dollar amount into the Credit Card Limit field.
- The amount entered should not contain commas.
- The amount entered must be a whole number (no cents).
- Finish entering/editing the Payment & Terms.
- The Payment Instructions field should be updated to reflect use of credit card limits. Example: “We require Bank Account (ACH) payment on invoices over $500.00."
- Click the Save button at the bottom of the page.
Bidder Impact
When a bidder goes to the Checkout page to pay their invoice via atgPay:
- If the invoice is less than the selected Credit Card Limit, the bidder will be able to select either Credit Card or Bank Transfer (ACH) as their payment method.
- If the invoice amount is greater than the selected Credit Card Limit, the bidder will only be able to select Bank Transfer (ACH) as their payment method.
Additionally, the bidder will see a message explaining why credit card payments cannot be accepted:
“To ensure secure payment, {{auction_house_name}} requires Bank Account (ACH) payment on all invoices over {{auctioneer_set_CC_Limit_amount}}. Please select a bank account or add one if you do not have one on file.”
Additional Payments
If additional fees are added to an invoice that has already been paid (prompting a second payment) the Credit Card Limit will be based on the new balance due, not the original amount.
The bidder will be able to select either Credit Card or Bank Transfer (ACH) as their payment method as long as the current balance due is below the Credit Card Limit, even if the original invoice amount was over the Credit Card Limit.