Feature Availability: ALL PLANS
Balances and withdrawals play a crucial role in the operation of an e-commerce site, particularly in facilitating financial transactions between the platform, its users, and external payment systems.
Why is it important? This is a critical aspect of a business's financial operations, as it directly affects cash flow and profitability.
Requirements
- Verified Prosperna Account
- Verified Mobile Number
- Order Status marked as "Completed"
- For Lalamove and Custom Delivery Date, Payment Status as "Paid"
- Minimum available balance of PhP 250.00
Summary
- Balances - Your dashboard summary of your available balance, pending balance lifetime orders and total withdrawal history
- Available Balance - Total amount of funds that can be withdrawn that have been cleared after 3 business day period after confirmation of payment
- Pending Balance - Total amount of funds that are in progress of completing the 3 business day period after the date of payment confirmation
- Lifetime Orders - Total amount of completed orders
- Total Withdrawal History - Total amount of all withdrawals made
About Balances and Withdrawals
Where can I view my available funds for withdrawal?
Your available funds for withdrawal can be found in your Balances Dashboard.
How fast can I withdraw funds?
Funds can be withdrawn every 3 business days after confirmation of payment and the order status is marked as completed.
When will the funds reflect in my account?
Depending on the designated financial institution that you have selected for settlement, the funds for withdrawal could reflect in your account as fast as "real-time" or up to three business days to reflect in your account.
Is there a minimum withdrawal amount?
Yes, in order to withdraw funds, a merchant must have a minimum available balance amount of Php 250.00.
Is there a withdrawal fee?
Yes.
Standard Withdrawal Fee is Php 30.00.
How fees are calculated on Payouts?
- Payment Type - method selected by the customer to make payments, determines the payment gateway fee
- Credit Cards - 3.5% + PhP 15
- Bank Transfer - PhP 15
- Paymaya - 2.5%
- GrabPay - 2.5%
- GCash - 2.5%
- 7-Eleven - 1.5% (min PhP 15)
- Order Amount (OA) - how much the customer paid in total
- Additional Fee (AF) - if applicable, it refers to additional delivery fees charged to the merchant
- Convenience Fee (CF) - charge added to the total transaction amount; merchants can now split the convenience fee with their customer
- Shipping Fee (SF) - the amount charged to deliver the package to the customer
- Payment Gateway Fee (PGF) - aka online payment fee, this is a charge for enabling the customer to use the available payment gateways
- Net Amount (NA) - the merchant's revenue from a single transaction after additional charges have been deducted
- Total Amount Due to Merchant (TADM) - the total amount the merchant can withdraw after adding the total of the net amount from all the transactions
Sample Transaction Report
DATE |
PAYMENT TYPE |
ORDER AMOUNT |
ADDITIONAL FEE |
CONVENIENCE FEE |
SHIPPING FEE |
PAYMENT GATEWAY FEE |
NET AMOUNT |
1/9/23 |
Credit Card-VISA |
PHP 2,000.00 |
PHP 20.00 |
PHP 31.20 |
PHP 80.00 |
PHP 87.80 |
PHP 1,781.00 |
1/10/23 |
Bank Transfer-BDO |
PHP 1,000.00 |
PHP 10.00 |
PHP 15.75 |
PHP 50.00 |
PHP 15.00 |
PHP 909.25 |
1/11/23 |
Ewallet-GCash |
PHP 500.00 |
PHP 0.00 |
PHP 8.00 |
PHP 40.00 |
PHP 13.50 |
PHP 438.50 |
TOTAL AMOUNT DUE TO MERCHANT |
PHP 3,182.75 |
Net Amount Formula: OA - (AF + CF + SF + PGF) = NA
2000 - (20 + 31.20 + 80 + 87.8) = 1781
1000 - (10 + 15.75 + 50 + 15) = 909.25
500 - (0 + 8 + 40 + 13.50) = 438.50
Total Amount Due to Merchant Formula: NA1 + NA2 + NA3 = TADM
1781 + 909.25 + 438.50 = 3182.75
Need more help?
For more information and assistance, please send an email to [email protected].
Happy Selling!
0 of 0 found this article helpful.