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Payout - This is a scheduled event specifying when funds will be credited/debited and can be set to run daily, weekly, monthly, annually, or single for a one-off payment. Payouts can be setup via the API using the
/payoutsendpoint. For list of Payout available actions and fields reference the Payout API documentation.Disbursement - This is the record of funds being credited or debited to/from the merchant bank account based on the payout schedule.
In the Payrix Softrip Payments Portal a Payout is represented underneath Withdrawal Schedules and Disbursement events are represented underneath Withdrawal History.
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e.g - If a payout is created at 3PM and the start is set to current day then at 6PM ET Payrix Softrip Payments will generate a Disbursement.
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Holidays Include New Year's Day, Martin Luther King Jr’s Day, President’s Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving Day, and Christmas Day.
Payout Overview
Payrix Softrip Payments submits batches daily to the processor for both Credit Cards and ACH transactions at 9:30PM ET. The batch composes of all sale and refund activity that has been captured so that it can be settled by the processor.
Transactions for the day processed after 9:30PM ET will be captured in the next day's batch.Payrix can accommodate other batch times for Enterprise clients.
Assuming that the disbursement is set to 100% daily then Credit Card transactions should hit the bank account the next day. eCheck transactions generally have a 1-5 delay per industry standard.
Note: A transaction can be flagged as high-risk by the processor. If this occurs, then there may be a several day hold that can delay the transaction from being deposited to the merchant account. For questions regarding a transaction on hold or what constitutes a high-risk transaction you can contact our Risk & Boarding team via our Payrix Support Help Portalplease contact the Softrip support team.