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⍰ ASK Do EMI accounts charge a processing fee for each transaction like payment gateways do?

EMI accounts and payment gateways have distinct differences, particularly in terms of fees. While EMI accounts impose an interest rate on the purchase amount, payment gateways charge a processing fee for each transaction. The interest rate on EMI accounts can fluctuate based on the customer's credit score, whereas the processing fee for payment gateways can vary depending on the transaction type and the agreement between the merchant and the payment gateway provider.
 

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