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.
Settlement Period 1: Start of the month through 15th of the month.
Settlement Period 2: 16th of the month through the last day of the month.
Semi-monthly pay schedule
MoreCommerce will begin its payment process roughly 15 days after each settlement period ends.
Please allow 4-6 business days for the payment to arrive in your bank account. The payment will reflect the memo "MORECOMMERCE TRANSACTIONAL ACTIVITY".
Remember, MoreCommerce will only issue the payment if your Billing information is complete and up to date.
MoreCommerce will pay you for each order based on when it is scanned as delivered, e.g. the carrier scanned the shipment. If we do not receive a delivery scan on an order for some reason, you will be paid on the estimated delivery date associated with the Economy shipping service level applicable to the point of origin indicated in Merchant’s account settings.
So if a shopper places an order on January 31 and your shipment is scanned as delivered on February 2, MoreCommerce would assign the payment for Settlement Period 1.
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.
This will often be in the same settlement period as when the order is delivered, so the payment and reversal will cancel each other out.
But if the delivery and the return happen in different settlement periods then the payment and reversal will also be split between 2 settlement periods.
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, the fees will show in Settlement Period 2.
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.