Single transaction payout

Buckaroo offers the option to pay out transactions individually, allowing each collecting transaction to be paid out separately to the merchant’s bank account. This facilitates easier matching between Buckaroo’s payment and the corresponding transaction or invoice in the merchant’s system.

How It works

• Payout creation:

1. After a transaction is released to the merchant’s balance, a payout transaction with type C057 – Single Transaction Payout is created.
2. The description of this payout includes:
   • Invoice number of the original transaction
   • Description of the original transaction
3. This information is sent to the bank and appears on the merchant’s bank statement.

• Merchant control:

Merchants provide the invoice number and description when creating the transaction, allowing full control over the reference text for matching purposes.

• Transaction costs:

Transaction costs are not deducted from the balance to ensure sufficient funds for payouts.

Structured payouts

• Format: Merchants can send a reference in a specific format to Buckaroo, received as a structured reference on their bank statement.
• Supported variant: Buckaroo supports the Belgian structured BBA variant.
• Example: Reference should be a 12-digit number that passes the modulo 97 check, e.g., ++212/0500/54737++.
• Additional information: Provide this information when requesting a single transaction payout.

Additional explanation for belgian merchants

• Advantage: Payments per item with structured communication are shown in the correct place in the CODA file, facilitating 1:1 reconciliation of incoming funds using most Belgian accounting packages.

Restrictions

• SEPA Direct Debit:

This functionality is not available for merchants using SEPA Direct Debit due to the potential for reversals that could cause fund shortages.

• Refunds:

Refunds can also create fund shortages if regular transactions have already been paid out. It’s possible to use single transaction payout with refunds only if the merchant regularly tops up their Buckaroo balance to avoid deficits.

• On-Hold payouts:

1. If the balance is too low at payout time, the payout will be put on hold and reattempted daily, oldest first. Merchants need to raise their balance to ensure timely payouts.
2. Raising Balance: Go to Plaza -> Financial -> Accounts and Statements -> Actions -> Raise Balance.
3. Note: Credit transfers to raise balance do not work as they are paid out individually. Use the raise balance action in the Plaza instead.

Costs

There are associated costs with this functionality. Contact the sales department for more information.