Creating a Withdrawal Flow for multiple Merchants via Groups only applies to new Merchants as they are boarded to the Payrix platform. For Merchants that are already boarded and processing on the Payrix, you can create an individual custom Withdrawal Schedule.
You can create a standard Withdrawal Schedule for multiple Merchants or your entire portfolio by creating a Withdrawal Flow in a Group, and adding any new Merchants you wish the Withdrawal Schedule to apply to into this Group at the time they are boarded to Payrix.
Speak to your Payrix Relationship Manager about adding an automated workflow to your Payrix onboarding process that will seamlessly add your new Merchants to the correct Withdrawal Group as they sign-up. This process will allow you to create a one-time Withdrawal Flow and your Merchants will automatically be boarded with your desired payout schedule.
On your Dashboard select Groups (under the Management header) then hit the Add Group icon to create a custom Withdrawal Flow that will apply to any Merchants included in this Group.
Step 1 - Name the Group (e.g. ‘100% Daily Payout Group’) then hit Create Group once completed. You will add the custom Withdrawal Flow in later steps, but for Step 1 simply name the Group and then select Create Group.
Step 2 - Now that the Group was named and created you must open it in order to create the customized Withdrawal Flow with your desired payout schedule for your Merchants. To accomplish this, scroll down the page to where your Groups are listed and select the correct one to open it.
Step 3 - Next, you will be redirected to the Group’s profile page. Here, select the Withdrawal Flows tab then hit the Add Withdrawal Flow icon.
Creating a Withdrawal Flow will only apply a customized payout schedule to any new Merchants you board to Payrix that are included in this Group.
Step 4 - Now you will need to create a Withdrawal Flow which will apply a customized payout schedule to any new Merchants you add to Payrix that are included in this Group. In the popup, complete the required fields to create your Merchants' custom payout schedule and hit Add when done. The image below shows the most common Withdrawal Flow of 100% daily payouts to your Merchants' bank accounts.
Required and optional Withdrawal Flow fields:
This field requires entering a numerical value in the first space, then selecting the frequency from the dropdown menu in the second space.
For example, if you want to create a daily payout schedule you would enter ‘1' in the first space and select 'Days’ from the dropdown menu in the second space (as shown).
Type & Amount
Type: Select whether you would like the payout schedule to be for a percentage of the Merchant’s balance or an actual dollar amount from the dropdown menu.
Amount: Based on the Amount Type you selected, enter either the dollar amount or percentage of the Merchant’s balance you’d like to send to their bank account.
Select from the dropdown menu whether you want the Withdrawal Flow to add a payout to your Merchants' accounts at the time their Payrix account is created or when they are Successfully Boarded.
We suggest selecting the ‘Board’ option.
By default, this field is not required because the relevant Merchant’s Payrix Login ID is used. If you wish to hide the payout that this Withdrawal Flow created from the Merchant when they login to the Portal you can enter an alternate Payrix Login ID in this field.
Enter the minimum dollar amount in the Merchant’s available balance in order for a payout to trigger. By default, the minimum payout amount is $10.00. If a Merchant’s available balance is below this amount their Withdrawal will not trigger.
You can update this field to an amount greater than $10.00 if you desire.
Select from the dropdown menu whether you want the Withdrawal Flow to create an active or inactive Withdrawal Schedule for your Merchants.
By default, a Withdrawal Flow will create an active Withdrawal for your Merchants.