Overview

Settlement is the main instrument to request income withdrawal for a merchant. The process is executed as follows:

  1. A settlement is initiated in the Administrative Panel.

    1. The settlement period is to be defined (only Completed transactions are included).

    2. An operator - a licensed payment service provider - is required. It is possible for the merchant to have agreements with several Operators responsible for withdrawal transactions to divide incomes received from different projects or transaction types.

  2. The settlement is sent to the Operator defined in the details.

  3. The Operator processes the settlement.

  4. Once the settlement is processed, the withdrawal sum is transferred to the merchant's external account according to the account/card details provided to the Operator.

The Settlements tab provides the list of all settlements created by merchants on the platform.

Related pages

Merchants
Projects

Opening the item

Follow the steps below to see the list of settlements:

  1. Navigate to the Admin Panel.

  2. Click eCommerce on the left sidebar.

  3. Go to the Settlements menu item to open the list.

Follow the steps below to browse Project details:

  1. Navigate to the Admin Panel.

  2. Click eCommerce on the left sidebar.

  3. Go to the Settlements menu item.

  4. Click Show in a settlement line to open its details.

Component parameters

Parameter

Description

ID

Demonstrates unique settlement identification numbers.

Created at

Date and time of settlement creation.

From

The start date of the settlement period.

To

The end date of the settlement period.

Status

Internal settlement status.

  • Opened - the settlement is created and not processed yet.

  • Completed - the settlement request is filled by an Operator.

  • Canceled - the settlement is canceled by the merchant or Administrator.

Merchant

A merchant requesting a settlement.

Operator

An Operator to process the settlement request.

Amount

The sum requested by a merchant depending on their default currency.

Currency

The merchant’s default currency.

Settlement amount

The final amount after conversion, if one is applied.

Settlement currency

The final currency after conversion, if one is applied.

Settlement fee

The fee charged for the request.

Action

  • Click Show to open the settlement without the ability to edit it.

  • Click Edit to open settlement details with the right to amount and fee details.

It is not possible to change the settlement period. In case of need, the settlement request is to be canceled and initiated again with the correct details.

Filters

Search for profiles of individuals by certain parameters. Search is filtered by the parameters provided in the tab, multiple-choice is available. There is an additional parameter available for filtering:

  • Settlement by - filter the list by the Administrators who initiated a settlement.

Add new

Create a settlement manually. The option is to be used in exceptional cases—a settlement is initiated by a merchant via the Merchant Dashboard.

Configuring the component

Settlement details panel provides an extended list of settlement parameters.

Most of the parameters correspond with the Settlements List, though there are a few additional parameters present.

Parameter

Description

Balance modified

The parameter defines whether the settlement amount has been debited from the merchant’s account.

  • If set to No, the settlement is executed in a sandbox project and is not meant to debit sums from the merchant’s account.

  • If set to Yes, the settlement is executed in an active project and will result in debiting sums from the merchant’s account.

Updated at

The field provides the date when the settlement request was changed for the last time (for example, after the status or amount update).

Comment

Additional message provided by an Administrator.

Payout payment providers

Defines which service providers execute the settlement.

Exchange rate

Defines the exchange rate if the final settlement currency differs from the requested currency.

Settlement fee amount

The settlement fee expressed in the amount to be charged, if one is applied.

Settlement fee percent

The settlement fee expressed in the percentage rate, if one is applied.

Settlement fee

Total settlement fee, if one is applied.

Conversion Fee Percent

The conversion fee expressed in the percentage rate, if one is applied.

Conversion Fee Amount

The conversion fee expressed in the amount to be charged, if one is applied.

Conversion Fee

Total conversion fee, if one is applied.