Fees include costs for specific time frames elapsing, such as weekly or monthly. Fees also include costs for actions taking place, such as a transaction authorization, Merchant onboarding, or chargeback management. These fees are assessed by a Partner to their Merchant, or by Worldpay for Platforms to a Partner, when a time interval has elapsed or specific actions have occurred.
Fees are first credited to the Partner’s available balance, typically reflecting the pricing of the Merchant. Any remaining amount is then added to the Merchant’s available balance.
View the following articles for more information about fees and how to configure them:
In a Payrix Pro context, charges set by Partners to monetize payment services for Merchants. Partners can customize fees for specific Merchants or set portfolio-wide fees using Groups.
By default, fees are applied to the Merchant and paid to the Partner account. A processed entry deducts the fee from the entity paying the fee. This fee is reflected in the entity's Available Balance and can be reviewed on the Balance Details page.
The movement of funds between a customer (cardholder or eCheck account holder) and a Merchant to purchase a good or service.
The process of placing funds on hold with a customer's bank to verify the availability of the amount required for a transaction.
An entity that can process transactions and has been onboarded through a Payrix Pro Partner.
The process of adding clients (Merchants) to the Payrix Pro platform to use the Payrix Pro payment solutions. Also known as boarding.
A dispute initiated by a cardholder regarding the validity of a credit card charge. Chargebacks are usually initiated when the cardholder contacts the issuing bank, often due to an unauthorized charge, a dispute over goods, or other issue. This process results in a reversal of funds from the merchant's account by the card brand issuer, reimbursing the cardholder. To recover the funds, the merchant must provide supporting evidence to contest the chargeback.
A partner entity in the Payrix Pro system that receives fees collected from Merchants. Also known as a Vendor or a Referrer.
The balance of an entity account recorded on the Payrix Pro platform identifying the total balance of the entity’s platform-hosted FBO account.