Managing Seller Payouts

Learn to manage how your sellers get paid.

Settlements contain the transactions and money movements that sellers process. Settlements include payments, refunds, adjustments, and fees.

When Finix approves Settlements, Finix creates Funding Transfers to deliver your seller's payouts. For additional details on Settlements and payouts, see Collecting Payouts.

Payout Schedules

Your seller receives payouts depending on their payout schedule. Finix offers several different schedules to manage payouts.

Type	Description
Daily	Settlements become ready for approval every business day.
Monthly	Settlements become ready for approval on a monthly basis.
Manual	Settlements become ready for approval manually on an on-demand basis (PayFacs only).

For any additional questions, please contact the Finix Support team.

Payout Preferences

Payout Types

Type	Description
Net	Finix deducts fees from the payouts to your sellers. Finix combines deposits and fees into one combined Funding Transfer.
Gross	Finix distributes deposits and fees into two separate Funding Transfers.

Net

Net Payout Diagram

If you had $1,000 in Payment and $30 in Fees, your seller would receive a payout of $970 to their payout bank account.

Gross

Net Payout Diagram

If you had a $1,000 Payment and $30 in Fees, your seller would receive two payouts. The first would be a $1,000 credit to the seller's bank account. The second would be a debit of $30 to the seller's other bank account.

Using Finix, you can manage what bank accounts get used for your sellers' payouts. This includes which bank accounts you use for payouts and fees.

Payout Speed

Finix uses Next Day ACH to payout your sellers.

Next Day ACH is offered by default to Finix Flex customers. Through Next Day ACH, funds from payouts are available in sellers bank accounts the business day after the settlement is approved.

If you have any questions about the delivery of payouts, please reach out to your Finix point of contact or the Finix Support team.

Reconciliation

Three options are available to control when Transfers appear in Settlements and are ready to settle:

Option	Description
Reconciliation	Transfers appear in Settlements only when Finix receives the Confirmation Settlement file from the processor detailing that the Transfer has been settled.
Processor Window	Transfers are added to Settlements based on the estimated settlement window provided by the processor.
Successful Capture	Finix places Transfers in Settlements immediately when the state becomes Succeeded.

Negative Payouts

In some cases, your sellers can have a negative balance. For example, if the seller receives $200 but refunds $300, their account balance would be -$100.

If the seller doesn't receive further payments or process transactions to balance out the negative amount, Finix creates a Funding Transfer that debits the seller's bank account.

Managing Payouts with the Dashboard

To manage the Payout Settings of a seller:

Open the Merchant Account of the seller.
Click the Payout Settings tab.

View Payout Settings

To change Payout Settings, click Edit.

Edit Payout Settings

If you run into any issues changing payout settings, please don't hesitate to contact the Finix Support team.

Managing Payouts with the API

To manage the Payout Settings of your sellers via API, use the Payout Profile resource.

Fetch your Merchant's Payout Profile

To view the payout profile of a seller, fetch the Payout Profile resource associated with the seller's Merchant.

Get Payout Profile

curl "https://finix.sandbox-payments-api.com/merchants/MUjhg6KvrfFU4SNRHF5Z68q5/payout_profile" \
    -H "Content-Type: application/json" \
    -u USoCkJMXiLdQfB6EmzBLSpJf:11a3d46d-e299-4835-bb0e-c2c759993689

Payout Profile Resource

{
    "id": "POmFhhD9yU4Q92ynmDm6NsWe",
    "created_at": "2023-01-11T04:58:56.99Z",
    "updated_at": "2023-01-11T04:58:56.99Z",
    "gross": {
        "fees": {
            "day_of_month": 1,
            "frequency": "MONTHLY",
            "payment_instrument_id": "PIu47vyWTg6MpWAny4wihRef",
            "rail": "NEXT_DAY_ACH",
            "start_time": null,
            "submission_delay_days": 3,
            "time_zone": "America/New_York"
        },
        "payouts": {
            "frequency": "DAILY",
            "payment_instrument_id": "PIu47vyWTg6MpWAny4wihRef",
            "rail": "NEXT_DAY_ACH",
            "start_time": null,
            "submission_delay_days": 1,
            "time_zone": "America/New_York"
        }
    },
    "linked_id": "MUjhg6KvrfFU4SNRHF5Z68q5",
    "linked_type": "MERCHANT",
    "tags": {},
    "type": "GROSS",
    "_links": {
        "self": {
            "href": "https://finix.sandbox-payments-api.com/payout_profiles/POmFhhD9yU4Q92ynmDm6NsWe"
        }
    }
}

Update a Payout Profile

To update the payout profile of a seller, update the Payout Profile resource associated with the seller's Merchant.

Update Payout Profile


curl "https://finix.sandbox-payments-api.com/payout_profiles/POeMLHvNuQRUo3rmWgbYUHxZ" \
    -H "Content-Type: application/json" \
    -u USoCkJMXiLdQfB6EmzBLSpJf:11a3d46d-e299-4835-bb0e-c2c759993689 \
    -X PUT \
    -d '{
        "type": "GROSS",
        "gross": {
            "payouts": {
                "frequency": "DAILY",
                "submission_delay_days": "1",
                "payment_instrument_id": "PIu47vyWTg6MpWAny4wihRef",
                "rail": "NEXT_DAY_ACH"
            },
            "fees": {
                "frequency": "MONTHLY",
                "day_of_month": "1",
                "submission_delay_days": "3",
                "payment_instrument_id": "PIu47vyWTg6MpWAny4wihRef",
                "rail": "NEXT_DAY_ACH"
            }
        }
    }'