Settlement Overview

A Settlement is a logical construct representing a collection (i.e. batch) of Transfers that are intended to be paid out to a specific Merchant.

Using Dynamic Payouts, Finix is able to:

• Pay Merchants
• Debit For the Benefit Of (FBO) accounts
• Credit For the Benefit Of (FBO) accounts
• Send revenue collected to your Operating Account

We handle Dynamic Payouts to the FBO account through Settlements.

Each Settlement is comprised of transfers that meet the following criteria:

• state = ‘SUCCEEDED’ 
• The Transfer has not been previously settled out

e.g. If a merchant has a Transfer with state = ‘PENDING’ it will not be included in the batch settlement.

Settlements will also include any refunded Transfers as a deduction and are calculated using the following equation. 

Total Amount - Total Fees = Net Amount 

Where Net Amount is the final value that is deposited into your merchant’s bank account.