The funds related to successfully executed payment acceptance transactions pass though different stages i.e.:
- Processing: The gross amount of transactions which have not yet been cleared and settled to Nomupay’s settlement account by the respective card scheme or alternative payment method.
- Scheduled: The net amount of transactions scheduled to be paid out to your nominated bank account. This amount will change over time as sales, refunds, chargebacks and other adjustments, like taxes (if applicable) and fees, are processed.
- Funded: The net amount of transactions paid out to your nominated bank account.
Funds are paid out to your nominated bank account with a T+X timeframe (excluding bank transfer time).
- T is the time the initial transaction was successfully executed, and
- X is the delay in business days it will take for the funds to be credited to your bank account (excluding bank transfer time).
The number of business days (i.e. "X") is dependent on multiple factors, including the payment method, country where the transaction took place, bank holidays, etc. Part of this period includes the time it takes the funds to be transferred from the card -/APM holders financial institution to Nomupay’s settlement account.
When the funds settle and thereby become available for merchant funding, Nomupay schedules a bank transfer. Bank transfers happen on business days (i.e. weekend and local bank holidays excluded). However, please bear in mind that the money may not arrive on your bank account on the same day.
Most banks execute the actual transfer of money twice a day, once in the morning and once in the afternoon on business days. Transfers that are triggered after business day cut off, will by the bank be processed during the next available batch transfer. So, depending on when Nomupay issue the bank transfer, there could be a delay till the money arrives on your bank account. That said, there are some bank transfers which are fast, and depending on the bank and country, the funds may be transferred over the weekend. Some examples would be; Transfer between own bank account, cross border transfer to the same bank, or transfer within the same network.
Currencies
Nomupay distinguish between payment presentment currency, settlement currency and merchant funding currency.
- Payment presentment currency: The currency the consumer sees and is charged at checkout.
- Settlement currency: The currency available for the scheme or alternative payment method to fund Nomupay’s settlement account.
- Merchant funding currency: The currency Nomupay can offer you to be paid out on your bank account.
The supported currencies will depend on the payment method and country. To get an overview of the supported currencies, please visit the Payment Methods section.
It should be noted that when you choose for a merchant funding currency different from the settlement currency, then a currency exchange fee will apply.
Transaction Fees
The applicable transaction fees will depend on your pricing model.
Nomupay can offer the following pricing models:
-
For alternative payment methods:
- Single merchant discount rate (Single MDR)
-
For card schemes:
- Multi merchant Discount Rate (Multi MDR)
- Interchange Plus Plus (IC++).
Additionally, to the above there can be supplementary fees which apply i.e. for refunds, chargebacks, pre-disputes, gateway and foreign exchange.
Single Merchant Discount Rate (Single MDR)
With the Single MDR pricing model you are charged 1 fixed rate per alternative payment method transaction.
Multi Merchant Discount Rate (Multi MDR)
With the Multi MDR pricing model you are charged 4 fixed rates in 2 dimensions per transaction.
-
Card type:
- Debit card
- Credit card
-
Issuer location:
- Domestic
- International
In this model, the breakdown of the interchange fee, card scheme fees and acquirer fee are not specified. Instead, the different types of fees are blended in an average acquirer fee i.e. the MDR amount.
Interchange Plus Plus (IC++)
In the IC++ pricing model you will receive a detailed breakdown of the different types of fees per transaction i.e.
- The interchange fees that go to the issuing bank
- The different types of card scheme fees that go to the schemes for using their network
- The acquiring fees that go to the acquirer for acquiring the funds from the cardholder
In this model you pay the exact fees that were charged by the issuer, card scheme and acquirer.
Supplementary Fees
In specific use cases supplementary fees will apply. These can split in the following categories.
| Transaction fee type | Description |
| Tax Fees |
Depending on the country where your entity is registered taxes may apply, which means processed transactions could be subject to one of the below tax fees:
|
| Refund Fee | If a refund transaction is processed, then it is charged at a fixed rate. |
| Chargeback Fee | If a chargeback transaction is processed, then it is charged at a fixed rate. |
| Pre Dispute Fee | If a pre dispute transaction is processed, then it is charged at a fixed rate. |
| Gateway Fee |
If you process via one of Nomupay’s associated gateways, then it is charged at a fixed rate. Note that processing via the Nomupay Gateway caters for a detailed breakdown of the billable events i.e.:
|
Additionally, when you choose for a merchant funding currency different from the settlement currency, then a currency exchange fee will apply.
Merchant Funding Methods
Funds added to the merchant available funding balance are automatically paid out to the merchant. The offered merchant funding method is bank transfer. Configuring the merchant bank account is part of the onboarding process.
If you are interested in a more flexible merchant funding solution, please visit the Path Solution Architecture for more details.