Managing Your Sellers and Payouts

Learn to manage how your sellers get paid.

A Settlement contains the transactions and money movements sellers process. These Settlements include payments, refunds, adjustments, and fees.

Once a Settlement gets approved, a Transfer gets created to pay out sellers. These Transfers are also called Funding Transfers. Only approved Settlements create a Funding Transfer.

Payout Schedule

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

The Payout Schedules available include:

Type	Description
Daily	Settlements become ready for approval every business day.
Monthly	Settlements become ready for approval monthly.
Continuous	Settlements become ready for approval manually on an on-demand basis. To enable Continuous Settlements, contact the Finix Support team.

Payout Type

Finix offers two ways to configure payouts:

Type	Description
Net	Fees get deducted from the payouts to your sellers. Deposits and fees get combined into one Funding Transfer.
Gross	Deposits and fees get distributed into two separate Funding Transfers.

Net

Net Payouts

If you had $1000 in Payment and $30 in Fees, your seller would receive a payout of $970 to their payout bank account.

Gross

Gross Payouts

If you had a $1000 Payment and $30 in Fees, your seller would receive two payouts. The first would be a $1000 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 offers two speeds for delivering payouts to your sellers:

Type	Description
Next Day ACH	Funds are available the next business day
Same Day ACH	Funds are available on the same business day if the Settlement gets approved by 11 AM ET.

Next Day ACH gets offered by default to Finix Flex customers. If you want to use Same Day ACH, contact your Finix point of contact or the Finix Support team for more information.

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.

To change Payout Settings, click Edit:

Finix Dashboard - Payout Settings

Managing Payouts with the API

To manage the Payout Settings of a seller using our APIs, use the Payout Profile resource.

Fetch a Payout Profile

To fetch a Payout Profile use the following GET request.

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

Example Response

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{
  "id" : "POeMLHvNuQRUo3rmWgbYUHxZ",
  "created_at" : "2023-01-11T02:34:13.48Z",
  "updated_at" : "2023-01-11T02:34:13.48Z",
  "linked_id" : "MUjhg6KvrfFU4SNRHF5Z68q5",
  "linked_type" : "MERCHANT",
  "net" : {
    "frequency" : "DAILY",
    "payment_instrument_id" : "PIu47vyWTg6MpWAny4wihRef",
    "rail" : "NEXT_DAY_ACH",
    "submission_delay_days" : 0
  },
  "tags" : { },
  "type" : "NET",
  "_links" : {
    "self" : {
      "href" : "https://finix.sandbox-payments-api.com/payout_profiles/POeMLHvNuQRUo3rmWgbYUHxZ"
    }
  }
}

Changing a Payout Profile

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

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curl https://finix.sandbox-payments-api.com/payout_profiles/POeMLHvNuQRUo3rmWgbYUHxZ \
  -H "Content-Type: application/vnd.api+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"
      }
    }
  }'