The Go Fast Races App Fee (Application Fee) is the cost our partnered producers pay for using our payment processing service. Our Payment Processing Service cost 3.5% + $1.99 per transaction. Compare platform app fees at the bottom of this article.
The vast majority of people call this a “credit card fee”. This is incorrect. The correct term is Application Fee, and the definition being a fee for facilitating payments for any 3rd party business.
This is how payment processors (like our partner Stripe) make money as a business, they facilitate online payments for 3rd party businesses. Although there is such a thing as a “credit card fee”, that term is not accurate when referring to an application fee.
Our partnered producers have 3 options when handling the App Fee. They can;
- Bare the cost in full
- Split the cost between them & rider
- Pass the cost onto the rider
How To Know What You’re Being Charged
You can find how a producer has chosen to handle the App Fee by looking at it on the entry form. Next to the App Fee price, you’ll see either a (2) or (3).
When you see (2), the App Fee is being split between the ride and producer. If it’s a (3), the App Fee is being passed onto the rider. Refer to the image below
If you don’t see an App Fee on the entry form, the producer is bearing the cost in full. Make sure to send them X’s & O’s
My Horse Sport
2.9% + $6.30 fee
3.5% + $1.99 fee