Other Items

Can I wire funds using Dynamic Payout?

No. Dynamic Payout uses the ACH network, which does not include the capability of performing wire transfers.

 

Are chargebacks deducted from my Settlement account?

No. Chargebacks are debited from your PayFac Operating account.

 

How should I recover chargebacks from my sub-merchant?

This depends upon your operating model. Typically, you would either recover funds directly from the sub-merchant as part of a prearranged process, or you would use funding instructions to debit the sub-merchant account (FISD) and credit your Operating account (FIPC).

 

How do I determine interchange on a particular transaction, so I can accurately bill my sub-merchants on an interchange+ basis?

The Net Settled Sales by Transaction report includes the interchange on each transaction. Using this information, you can add your fee and send the instructions to move the appropriate amounts.

 

Does Dynamic Payout support Canadian processing?

Yes. Worldpay supports Dynamic Payout in Canada. Please talk to your Relationship Manager for additional information.

 

What reports are available to inform me about account balances and money movement?

The table below provides information about several reports Worldpay provides for you to track money movement and account balances. Please refer to the Worldpay Scheduled Secure Reports Reference Guide for additional information.

The report availability times shown in the table below are target times. While we strive to always meet the target time, delays may occur on occasion. Worldpay will notify Merchants/Payment Facilitators, if there are delays.

Transaction Type	Report	Report Availability Time	Description
Acquired (MC, VI, DI, Direct Debit)	Settlement Report	Mon. - Fri. 10AM ET	Shows all acquired, settled transaction for the date generated.
Conveyed (AmEx Floated)	Activity Report	Daily 10AM ET	Shows all transaction from the previous day.
Funding Instructions	Funding Instruction Confirmation Report	Mon. - Fri. 10AM ET	Shows all Funding Instruction delivered successfully to the bank on the previous business day. These funds should settle to the accounts on the current business day.
Bank Rejects/Returns	Failed Funds Transfer Report	Mon. - Fri. 10AM ET	Shows all returns and rejects from the previous business day.
Available Balance	Account Balance Report	Hourly, Mon. - Fri. 1PM to 9PM ET	Shows the real-time balance of all PayFac accounts as of the date/time generated.
Bank Balance	Balance Summary Report	Tues. - Sat. 10AM ET	Shows the bank activity, starting balance and ending balance of the PayFac FBO Settlement account for the previous day.
Funding Instructions	NoC Report	Mon. - Fri. 10AM ET	Shows all Notices of Change related to Funding Instructions from the previous day.

 

What is a Notification of Change (NoC)?

NoCs are account update notices sent automatically by receiving banks through the ACH network to advise that account data sent in the original transaction is either incorrect or has been changed. Worldpay makes this information available to you via the daily SSR NoC Report by ACH Return Date report. Per NACHA rules, you are required update the account information on your systems within 6 banking days or prior to sending subsequent transactions for the same account, whichever is later.

 

Are there situations where a funding instruction succeeds and a NoC is also issued?

Yes. Depending upon the reason for the NoC, the receiving bank could accept the funding instruction and issue a NoC so you can correct your records for future instructions.

 

How can I trace the receipt of funds from a particular transaction to my FBO settlement Account?

To determine if fund from a particular transaction settled to your FBO Settlement Account, use exported data from the iQ Account Summary report, located under the Financial Reports. Select the FBO Settlement Account and click on the CSV export icon () next to the instruction count for the activity that applies to the transaction (see Figure below). In the exported file, you can locate the transaction using the Worldpay Payment Id, which the data includes.

Is there a way I can check the eligibility of a card for use with FastAccess Funding?

Yes. We recommend that all Payment Facilitators using Dynamic Payout subscribe to the Worldpay Master Merchant BIN File report. Within this report there is a Cardholder Funds Transfer Flag field. If this field has a value of Y for a particular BIN, you can use FastAccess transaction with any card having that BIN.

Subscribing to the Worldpay Master Merchant BIN file report requires you have an sFTP account on our Core platform. Please consult you Relationship Manager or Implementation Consultant for additional information.