Card Authorization Fees: Explained

We’re always scouring high and low to find ways to make Flip the app that lets you spend crypto with ease. We’re always seeing to it that our virtual cards are always available to serve you, rain, shine or when your software is holding your trouser for subscription renewal.

A lot goes into making this happen and that’s why you’re charged a small authorisation fee on each transaction.

What are authorisation fees?

An authorisation fee is a charge taken by your card operator each time your card is successfully accepted for a transaction. It’s the most common fee charged by card operators and you’ll find it on most of your POS receipts too.

Up until now, Flip virtual cards haven’t charged you authorisation fees. That’s about to change.

Why am I being charged an authorisation fee?

Virtual cards charge authorisation fees each time your transaction is successful and is charged one time per transaction. Most of this fee goes to the card issuing partner to maintain infrastructure and stuff like that. Flip gets a very small slice of that fee.

It’ll go something like this:

When you spend $1-$79.99 online, the authorization fee charged to your card is $1

When you spend $80-149.99 online, the authorization fee charged to your card is $2

When you spend $150-$499.99 online, the authorization fee charged to your card is $3

When you spend >= $500 online, the authorization fee charged to your card is $5

As we said, we get a small slice of the authorisation fee each time you pay, but starting September, at the end of every month, we’ll give this slice back to you, right in your Spend wallet. We want to make sure you’re spending as little as possible to access your favorite Flip features, so you’ll receive a percentage of your authorisation fee back. Not bad, yeah?

Download Flip today and access other features like sending USDT fast and instantly to other Flip users, up to  6% interest when you hold USDT in your Save wallet, and 3% cashback when you buy airtime and