Payrix will be implementing a new policy, aligned with the latest industry best practices, for risk mitigation. Please read the information below to learn more about the policy, upcoming changes and how to prepare. 

Effective March 1, the Account Closure Process will cause the system to deactivate accounts with 13 months of inactivity.

Note: Any account that has not processed a successful transaction since February 1, 2022 will be frozen for inactivity.   

The Frozen Status Impacts the Merchant by: 

Action 

Results 

Process Disbursements 

Will not retrieve the disbursements. 

Payouts 

Will not retrieve merchant records. 

Scheduled Fees 

Entity will not be able to charge a fee while frozen. 

Invoice Generation 

Will not be retrieved the invoices for neither the Merchant nor the Entity. 

Send Payments 

Payments to be checked and updated will not be sent. 

Run Subscriptions 

Will not retrieve the merchant or the entity subscriptions. 

Chargeback Responses 

Merchant will not be able to respond to a chargeback/dispute. 

Any merchant that returns to process will be subject to additional underwriting and will need to be provided with current Terms and Conditions prior to being unfrozen. 

Reviewing your Portfolio

To review your portfolio for its last known transaction date, follow these steps:

  1. On the Management tab, select Portfolio Management.  

  2. Under Portfolio Management, click the Filter icon (by the arrow in the top left hand corner) then confirm Merchant Data > Last Transaction Date has been selected for the report. 

  3. Below, you can see the Portfolio Management Report with Last Transaction Date. To download the report as a .CSV or .XLS, click the download arrow in the top right corner. 

Please reach out to your Relationship Manager with any questions.