Please note as of June 2019 Business Settings will now become System Settings
Please Note: Paysafe ACH Direct Debit is currently a feature in BETA stage. While some issues may be encountered when using this feature, we appreciate patience and understanding while this feature is being worked on
Which payment method should I use for the invoice so it can be executed with Paysafe ACH?
For Paysafe ACH, you must choose Paysafe ACH as the payment method. Not to be confused with Direct Debit (Only Applies for Europe)
Which payment method should my clients use when making a purchase via Webshop?
Members can choose Direct Debit as the payment method during the checkout process. Then, they will be prompted to enter their account details.
How does the system bill my clients once they have their payment details saved?
There are 2 ways you can bill your clients:
- Enable automated payments in your System Settings > Payments. Invoices with the payment method Paysafe ACH will be automatically executed in the frequency chosen at 2:00 AM of your local timezone.
- Manually execute online payments in the Financial Module. Go to sidebar menu and click on Manage. Select Financial and filter by Outstanding > Online Payments > Paysafe ACH. Then, select the invoices you want to pay and go to Options > Execute Online Payments
What if a client wants to pay an invoice in cash or credit card. Can I exclude the invoice from being paid via Paysafe ACH?
Yes, simply open the invoice and change the payment method to the one you want to use at the time.
Can I use Paysafe Direct Debit in Canada?
No, this feature is not yet available for EFT (Direct Debit for Canada).
Do I have to use a Different API key if I already have an account with Paysafe?
API Keys are specific to the PMLE (Parent Merchant Legal Entity). This is the legal business name specified by the club when signing up for their Paysafe account. As long as the names match on the Paysafe Credit Card and Direct Debit accounts, you can use the same API key.
How long does it take to create a new Direct Debit Account?
It can take up to 48 hours to have the account enabled.
Are there any limits of transactions that can be done?
No, however unusual or atypical transactions like a sudden rise of balance, or transactions from the flagged or suspicious account will be held back by the Risk Management team, in which case the club will be contacted by this department or the bank itself.
Are members notified about transactions made in their bank accounts?
No, they don’t get notified. That is up to the member’s bank if the bank has that feature.
Does the club receive notifications of failed transactions and Direct Debit Returns?
The club can enable scheduled reports to receive notifications of various types of transactions such as Direct Debit Returns. To do that, go to they Paysafe Portal (Back Office) > Reports > Scheduled Reports > Add Report and select Direct Debit Returns. Then just adjust the parameters and enter the notification email.
If I attempt the same payment several times and the transaction fails each time, does it mean that each time I will get charged a return fee?
Yes, the club will be charged the Return Fee each time until the bank blocks the transaction. Therefore, it’s recommended to contact the member after one failed transaction before attempting the payment again.
However, the club can contact email@example.com to enable Velocity Rules. This will prevent several attempts to happen within a specific time frame. For example, the club can request that an account can only be sent one transaction request every 2 weeks.
How can I transfer the funds from Paysafe to my bank account?
This is called the funding process and this process is automatic. Clubs usually get a funding time based on risk assessment. The standard funding time for Virtuagym clubs is 2 business days for both Credit Card and Direct Debit Accounts. Paysafe sometimes increase that funding time at the club request and after assessment. What this means is that if a club processes a DD transaction on Monday, those funds are only then transferred to the club’s bank account on a Wednesday. The money will be visible in the bank account 3 days after the settlement has been done.
How long does it take for Paysafe to transfer funds to my bank account?
After a settlement is completed, it takes anywhere from 1-3 business days depending on the Financial Institution of the Bank Account.
Seen from a different perspective, it takes 2 days for a completed payment to be settled plus 1-3 days to see the money in the bank account.
How often do I have to pay the Payment Fee?
The settlement fee or “payment fee” is charged every time a club processes payments and they settle (go to the bank for transfer). Normally, processed payments are settled in the same time frame of the batch that was executed. This means that if a client executes payments every 15 days, the client will be charged 2 payment fees after both batches of transactions settle.
Will a failed transaction result in a delayed settlement?
No, it will just be taken out of the batch and the club would have to execute that transaction again. It’s recommended to validate with the member why the transaction failed before executing the payment for a second time and avoid extra fees.
If a member has insufficient funds, will that show in Virtuagym too?
No, the only way to find out if a client has insufficient funds is after a transaction has been executed, in which case the invoice will show a failed transaction.
To find out why the transaction failed, go to your Paysafe portal and run a report to see more details of the transaction.
Can I use Paysafe ACH as a Payment method when using the POS?
Not at the moment. However, you can select bank transfer when checking out, then go to the invoice and manually change the payment method to Paysafe ACH.
If you need any further assistance with this process, please feel free to contact us at firstname.lastname@example.org