If you are getting settled by Peach Payments for any payment method, this is for you!
Once we have received your FICA documents and our Risk Team has approved your account, you will be eligible for Next-Business-Day settlement!
What does this mean for you as the merchant?
- Instead of getting multiple deposits into your bank account, you will get one deposit once a day.
Following your settlement will be an automated email from (insert from email address) which will include the following:
- The total amount that you can expect in your bank account
- A settlement summary with:
- Transaction period
- The deposit reference so that you know what to expect
- A breakdown per payment method on debits, credits and totals
- A clickable link will allow you to download a detailed settlement reconciliation file.
- Settlement reconciliation files will also be available for download under the Reporting > Settlements section in the Dashboard.
- See below example of what to expect from us after being settled:
Things to remember:
- If you have Mobicred as an additional payment method, this will still be settled weekly every Thursday.
- We will not process any settlements on South African public holidays. On the next business day, you will be settled for what was due the previous day and the public holiday.
- We will not process any settlements over the weekend. On a Monday you will be settled for all transactions processed on Friday, Saturday, and Sunday.
- There may be inter-bank delays of settlement depending on who you bank with, the funds may reflect on the same day or early next day.
- Our standard terms of settlement still apply. In specific circumstances, payments might be withheld or delayed, for example, due to reasons such as suspected fraud, chargeback disputes, sudden spikes in transaction volumes, incomplete verifications, outstanding fees, or the novice status of a merchant. These measures are in place to maintain a secure, trustworthy environment for all our partners.
