Disbursement Processing Cycle & Timeline

After a Merchant’s daily transaction batch is Settled, the funds appear in their Payrix Available Balance. To disburse the funds from their Payrix balance to their bank account, use the Withdrawal function. You can create a customized Withdrawal Schedule (API: payout), which can be configured as a one-time, daily, weekly, bi-weekly, or monthly disbursement to the Merchant’s bank account depending on their preferred timeline.

Additionally, you can specify a dollar amount or percentage of a Merchant’s Available Balance to disburse. The most common setup for merchants is to have a  100% Daily Withdrawal Schedule, which Payrix can also automate as part of a workflow. This ensures that all your clients have a standard Withdrawal Schedule created when they are onboarded. As a Referrer, you will also need to create a Withdrawal Schedule (API: payout) to receive the funds for fees you collected from your Merchants.

The frequency that Merchants receive payouts will depend on their custom Withdrawal Schedule, but at a maximum, they can receive one disbursement to their bank account per business day. Furthermore, Withdrawals do not process on the weekend or bank holidays. Withdrawals that are Requested over the weekend will remain in Processing status and update to Processed until the next business day.

In order to facilitate faster funding for your Merchants, we offer two payout/disbursement options. We recommend you discuss both options with your Relationship Manager to get an understanding of funding considerations and the costs associated each: