Net Settlement

What is Net Settlement?

Net settlement is how we work out what to pay into your bank for each payout. We start with the value of all the transactions you have processed, then subtract the amounts you owe and the amounts we are holding back.

The result is the net figure that lands in your Nominated Bank Account.

💡 In simple terms: Total transactions – fees (incl VAT) -  refunds – other deductions =  your payout.

What Goes Into the Calculation

Each payout is a snapshot of your account on a specific banking day. Here is what we add and subtract:

Added:

• The total value of approved transactions for the period.

Subtracted:

• Transaction fees for those transactions
• Payout fee (where applicable)
• Monthly fee (where applicable)
• Refunds you processed during the period
• Chargebacks raised against your account
• Reversals and adjustments
• Scheme fines or assessments charged through to you
• Any amount being held in or paid into a Reserve Account
• Any other amounts owing under your merchant agreement

If your refunds and chargebacks come to more than your transactions on a given day, the difference rolls into the next payout. If the negative balance carries on, we may debit it from your Nominated Bank Account directly.

💡 Fees are charged inclusive of VAT so the payout may be slightly less than what you are expecting

A Worked Example

Here is a sample banking day to show how the maths works:

Order of Deductions

Where there are several amounts to take off, deductions are applied in the following order:

1. Transaction fees and other Service Charges.
2. Refunds processed during the period.
3. Chargebacks and any related fees.
4. Scheme fines, assessments and adjustments.
5. Reserve Account contributions (where applicable).
6. Any other amounts due.

The remaining balance, if it is at or above the minimum payout amount of R500, is paid into your Nominated Bank Account on the next business day. If it is below R500, it rolls over to the next payout.

When Deductions Exceed Your Balance

There may be days where the deductions are larger than the value of your transactions, for example a high-value chargeback on a quiet trading day.

When this happens:

• Your account balance becomes negative.
• The shortfall carries over and is recovered from your next available payouts.
• If the negative balance is not cleared within a reasonable period, we may debit it directly from your Nominated Bank Account, as set out in your merchant agreement.
• We will always try to flag this with you ahead of time so there are no surprises.

Where Net Settlement Shows Up

• Each payout in your App’s Payouts tab shows the gross amount, the deductions, and the net amount paid into your bank.
• Select a payout to see the individual transactions and the fees that applied to each one.
• Your monthly statement gives you the same information consolidated for the month.
• For more on viewing fee detail, see [Fee Visibility].

Questions on a Specific Payout

If a payout does not match what you were expecting, the first thing to do is open the payout in the App and review the breakdown.

If the figures still do not make sense, contact us via any of our Support Channels with:

• The date of the payout
• The amount that landed in your bank
• The amount you were expecting
• Your merchant ID

Our team will investigate and revert with feedback within 1 business day.