Edge offers flexible pricing tailored to suit the diverse needs of businesses, whether you’re just starting out or scaling rapidly. This guide will walk you through our pricing model, helping you understand the costs associated with using Edge’s API Banking services.

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Overview of Pricing

Edge’s pricing is designed to be transparent and scalable. You only pay for what you use, with no hidden fees or long-term contracts. This ensures that you can manage costs effectively while leveraging the full power of Edge’s API suite.
Our pricing structure is based on the volume of transactions, the specific services used, and the environment (production or sandbox) in which you’re operating.

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Pricing Components

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1. Transaction Fees

Transaction fees apply to all financial operations carried out through the Edge API. This includes payments, collections, and transfers.
  • Percentage-based Fees:
    For each transaction, a small percentage of the transaction value is charged as a fee. The exact percentage may vary depending on the service and transaction volume.
  • Flat Fees:
    In some cases, a flat fee per transaction is applied, particularly for services like KYC (Know Your Customer) verifications or subscription management.
For example, a payment transaction may incur a 2% fee on the transaction value, whereas a KYC check might have a flat fee of 50 NGN per verification.

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2. Service-specific Pricing

Different services within the Edge platform may have their own pricing models. Some of the key services and their associated costs include:
  • Payments:
    Fees for processing payments via credit card, bank transfer, or digital wallets.
  • KYC Verification:
    A flat fee per KYC verification to validate customer identities.
  • Subscription Management:
    Charges based on the number of active subscriptions managed through the platform.

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3. Environment Costs

  • Production Environment:
    Charges apply for all transactions and services used in the production environment, where real money and sensitive data are involved.
  • Sandbox Environment:
    The sandbox environment is free to use, allowing you to test and develop without incurring charges. However, any data or transactions processed here are purely for testing purposes and do not affect your actual balance.
Ensure that you switch to the production environment when you are ready to go live, as the sandbox environment does not charge fees but also does not process real transactions.

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4. Volume Discounts

As your business grows, so does your transaction volume. Edge offers volume-based discounts to support scaling businesses. The more you use, the less you pay per transaction.
  • Tiered Pricing:
    Transaction fees decrease as your monthly volume increases. For example, the first 1,000 transactions may be charged at the standard rate, while the next 10,000 transactions are discounted.
  • Custom Pricing:
    For enterprise-level needs or exceptionally high volumes, Edge offers custom pricing plans tailored to your specific requirements.
Contact our sales team to discuss custom pricing options that align with your business needs.

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Billing and Payment

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Billing Cycle

Edge operates on a monthly billing cycle. At the end of each month, you will receive an invoice detailing the services used, transaction volumes, and associated costs.

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Payment Methods

We accept multiple payment methods for settling your invoices:
  • Credit/Debit Cards:
    Automatically charge your card on file at the end of each billing cycle.
  • Bank Transfer:
    For larger invoices, you may opt to pay via bank transfer. Ensure payments are made within the due date to avoid service disruptions.
You can update your billing information and payment methods anytime through the Edge Dashboard.

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Optimizing Your Costs

Here are some tips to help you manage and optimize your costs:
  • Monitor Your Usage:
    Regularly review your transaction volumes and service usage through the Edge Dashboard to anticipate your costs.
  • Take Advantage of Discounts:
    If you’re processing high volumes, consider moving to a higher pricing tier or negotiating custom rates to lower your per-transaction costs.
  • Test in Sandbox:
    Utilize the sandbox environment extensively for testing to avoid unnecessary costs in the production environment.

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FAQs

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1. How are transaction fees calculated?

Transaction fees are typically calculated as a percentage of the transaction amount. For certain services, flat fees may apply.

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2. Is there a minimum usage fee?

No, Edge only charges based on actual usage. If you don’t process any transactions, you won’t incur any fees.

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3. Can I get a custom pricing plan?

Yes, for businesses with large volumes or specific needs, custom pricing plans are available. You can contact us via the chat on the dashboard or send us an email via edge@sterling.ng
For a detailed breakdown of our pricing, including specific fees and services, visit our Pricing Page.
Edge’s flexible pricing ensures that you can grow your business without worrying about escalating costs. Whether you’re processing a handful of transactions or scaling to thousands, we’ve got a pricing plan that fits your needs.