Payment Schedule

Once you've set up your Billing information, MoreCommerce pays twice each month, per the Merchant Fees & Payment Terms agreement.

Each payment is a sum of all of the order Payments and Fees for a given pay period.

Here's how it works.

Semi-monthly pay schedule

MoreCommerce will pay you twice a month, roughly 15 days after each period ends:

MoreCommerce only pays on business days - if the pay date is a weekend or holiday then we'll initiate the payment transfer on the next business day.

Payments take 2-3 business days to reach your account and will reflect the memo "ACH OSP". MoreCommerce initiates a payment transfer on the pay date, but it takes banks a couple of days to process the payment.

Remember, MoreCommerce will only issue the payment if your Billing information is complete and up to date.

Payments

MoreCommerce will pay you for each order based on when you ship it and the shipment shows movement, e.g. the carrier scanned the shipment.

So if a shopper places an order on January 31 and your shipment shows movement on February 2, MoreCommerce would assign the payment for the first half of the month. (So you'd receive it in your February 28 payment.)

If someone (a shopper, you, our Trust & Safety team) cancels or returns an order, MoreCommerce will typically reverse the payment per the Merchant Fees & Payment Terms. MoreCommerce will deduct the amount from your payment based on when the cancellation or return is processed.

Most of the time, this will be the same period as when you ship the order, so the payment and reversal will cancel each other out.

But if the shipment and the return happen in different pay periods then the payment and reversal will also be split between the 2 pay periods. Continuing the example above, if you ship an order on February 2 and a shopper returns it on February 16, MoreCommerce would issue the payment in one period (1st half of the month, so you'd receive it on February 28) and reverse it in the next period (2nd half of the month, so you'd see a deduction in your March 15 payment). 

Fees

MoreCommerce charges fees for transactions and credit card processing based on when a shopper places an order.

So if a shopper places an order on January 31, we'll asses the fees on January 31. (And if you ship that same order on February 1, the payment would appear in the following period.)

If someone (a shopper, you, our Trust & Safety team) cancels or returns an order, we'll refund some or all of the fees per the Merchant Fees & Payment Terms. MoreCommerce will refund the fees based on when the cancellation or return is processed. 

Just like payments, this might happen in a separate pay period.

Let's go through that example

Most orders, shipments, returns, and cancellations will all happen within a single pay period.

However, in some cases, they'll be spread out far enough that they'll affect several payments. Here's an illustration of the "most spread out" case, so you can see how we'd schedule the payments and fees:

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