Payment Surcharges

For installment loans, we added Payment Surcharges, which let you add fees based on a percentage of a payment. When a qualifying payment is processed, the payment amount increases by the percentage you've configured in your Payment Surcharge. These are perfect for managing sales tax or other fees based on payment amounts, and are built with the flexibility that they can adapt to multiple use cases or tax jurisdictions.

You can customize which types of payments these surcharges will apply to, what rate to charge, and how the charge will be labelled in your records.

Payment Surcharges are configured across your tenant in Settings > Loan > Payments > Surcharges, and then set on individual accounts in Loan Settings > Payment Surcharges.