Scaling with Peach Payments: Insights from the Think Bigger Summit 2024
Discover the impactful journey of Peach Payments innovating payment solutions over the past 12 years, and future plans to empower businesses across Africa.
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Peach Payments is excited to offer daily settlements to all merchants making use of its online payment gateway.
We at Peach Payments are incredibly excited to announce the launch of fully automated, completely free daily settlements for all merchants!
What does this mean for merchants?
Until now, we settled merchants using our aggregation account for transactions processed through Peach Payments weekly, on a Thursday. And although merchants with their own merchant account are settled daily for card, they were also settled weekly for alternative payment methods offered by Peach (e.g. Scan to Pay or Payflex).
Our new daily settlements process means:
How will daily settlements work?
Merchants receive a single daily payment into their nominated bank account, along with an email detailing the breakdown of the settled amount across payment methods. See below for an example of the email, which will include:
There is a ‘Settlements’ tab on the left of the merchant’s Peach Payments dashboard that contains each settlement amount, and where merchants are able to download their settlement reconciliation files. See the image below:
Things to remember:
Do merchants need to do anything?
No. Daily settlements will be automatically enabled for all merchants. If you have any questions about the process, or want to query any transactions or settled amounts, you can email support@peachpayments.com
*We are working on bringing Mobicred into the daily settlements pattern, and are confident we will have a solution in the near future
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