Commissions
Commissions refer to the revenue generated from processing payments with . Merchant fees eligible for commissions, along with the software platform’s buy-rates and revenue share percentage, are outlined in the software platform’s Payment Processing Agreement.
Commission Statement
Commission statements are available in the Dashboard by the last day of each month. Access is limited to users with owner or admin roles.
Commission Payouts
Commissions are paid the month after the corresponding payment activity. For example, commissions for payments processed in April are paid by May 31.
- Payout schedule: Last day of the following month
- Payout method: Sent via ACH to the bank account provided during onboarding
- Negative commissions: If the calculated amount is negative, a payment link will be shared to collect the balance.
Calculation Method
The commission equation for each fee type is:
software platform commission = (merchant revenue - software platform cost) * software platform revenue share
If the merchant revenue is less than the software platform’s cost, the software platform is responsible for the full difference. For instance, if the merchant revenue is $100 and the software platform’s cost is $110, the software platform is responsible for the $10 difference.
Key Terms
| TERM | DEFINITION |
|---|---|
| Software platform’s buy-rate | The software platform’s cost structure as defined in the Schedule A. Also known as a fee schedule. |
| Merchant pricing | The merchant’s cost structure as defined in the merchant application and Dashboard. Also known as a merchant fee schedule. |
| Software platform cost | The total cost incurred by the software platform, calculated using their buy-rate. |
| Merchant revenue | The total revenue generated off the merchant, calculated using their pricing. Also known as the gross revenue. |
| Revenue share | The portion of net revenue (merchant revenue minus software platform’s cost) distributed to the software platform. |
Commission Statement v2
has introduced a new commission statement that uses automated calculations to eliminate manual errors and provide more detailed insights.
Report structure
Summary
The Summary tab provides an overview of your commissions, broken down by payment method and currency.
Card
The Card tab details the revenue, costs, and net commissions by merchant for all online and in-person card volume. This is a flexible, pivot table view where you can adjust filters and columns as needed. Commission details for USD vs CAD card volume will be reported on in separate tabs.
Bank-to-Bank
The Bank-to-Bank tab details the revenue, costs, and net commissions by merchant for all bank-to-bank volume. This is a flexible, pivot table view where you can adjust filters and columns as needed. Commission details for USD vs CAD bank-to-bank volume will be reported on in separate tabs.
Transaction Details
The Transaction Details tab includes transaction-level calculation details. This tab is useful for auditing calculations and conducting a custom analysis.
Glossary
The Glossary tab defines key fields within the Transaction Details tab.