As an Clearpay merchant, you are charged a fee for each Clearpay purchase made by a customer using Clearpay as their payment method, (and for which Clearpay has provided you with approval confirmation). The merchant fee comprises a fixed fee, plus a percentage amount, and can differ depending on whether the Clearpay transaction was online or in-store, and (your Clearpay merchant agreement will detail this).
Online transactions:
If a customer checks out online with Clearpay, we will pay you the purchase amount on behalf of the customer, setting off amounts owed to us under your Clearpay merchant agreement i.e. the fee for that transaction. We will send the remaining balance to your nominated account, typically up to five business days following the date of the Clearpay purchase, in accordance with your Clearpay merchant agreement.
In-store transactions:
If a customer uses Clearpay to make a purchase in-store, the process is a little different. These transactions process on your eftpos like any other eftpos transaction, meaning your payment service provider will pay you for each Clearpay purchase made in-store, less any processing fees. Clearpay will then invoice you for amounts owed, and direct debit that amount from your nominated account, typically on the second day following the invoice date, in accordance with your Clearpay merchant agreement.
Don’t forget, you can always keep track of all payments and orders via daily settlement reports in the Clearpay Business Hub.