How does the payment flow work after online authorization?
You will be funded by Payvision on a daily, weekly or monthly basis. The frequency of the remittances depends on the agreement between you and Payvision. Payvision will provide a reconciliation statement for every remittance. This reconciliation statement provides an overview of all transactions included in the remittance.
In this example, the remittance frequency is weekly, the remittance day is Monday and the delay period for the payment method is 7 days.
- Transaction has been processed on Thursday, October 1.
- The agreed delay period for the payment method is 7 days.
- The transaction will be released on Thursday, October 8.
- The transaction will be included in the remittance of Monday, October 12.
- Payvision will make the transfer on Monday, October 12.
- You will receive the transfer within 3 business days.
Refunds, chargebacks and reversals do not have a payment delay and will be included in the first upcoming reconciliation statement.
What kind of invoice does Payvision provide?
Payvision will provide an invoice for all services delivered in a specific month. Components of the invoice are
- Transaction fees (per payment method)
- Gateway fees
- Risk fees
- Periodic fees
Besides the aforementioned fees, the invoice statement also contains your company details, Payvision’s company details, an invoice number and Payvision’s bank details (optional). Whenever possible, Payvision will deduct the invoiced amount from your next remittance.
In which currencies are my transactions processed and paid out?
You can choose your own processing and funding currencies. The transaction currency depends on the payment method. Some payment methods support multiple processing currencies (e.g. credit card), while some other payment methods only support a restricted number of processing currencies (e.g. iDeal). You can always choose your own funding currencies. The funding currency is independent from the processing currency. Payvision supports multiple funding currencies.
By default, Payvision enables all the available processing currencies for every payment brand, applicable for a specific merchant.
Why is my transfer delayed?
Banks do take additional time to process a transfer. The exact delay of a transfer depends on the location of both, the sending and the receiving, banks. Normally you will receive the transfer within 1 – 3 business days. If you have not received the transfer within 5 business days and if your own bank cannot track the transfer, you should contact Financial Support.
Why do transfers fail?
A failed transfer is often caused by incorrect bank details. Components of the bank details are:
- Account number (IBAN)
- SWIFT code
- Beneficiary name
- Address of the bank
- Intermediary bank details (optional)
If you have not received the transfer within 5 business days and if your own bank cannot find the transfer, you should contact Financial Support.