Settlements are Collector's outpayments to Merchants. You can find more information on the Settlements page
When will the settlements be paid out to merchant?
In most cases Collector will pay the settlements on the next working day (according to Swedish business day calendar) after the purchase order has been activated. Merchant specific settings will apply to the schedule, if agreed otherwise.
What does the Service fee mean?
The service fee is the percentage value that Collector will charge the Merchant based on the total purchase value. The fee is deducted from the settlement amount and shows as a negative row on the settlement report. It is subject to VAT in Sweden.
Can the settlement files be sent via SFTP?
Yes, it’s possible to use SFTP in order to either receive or fetch the files from Collector server. Contact our Merchant support to discuss the details.
How do we change the bank account for settlements?
If the Merchant wants the settlements to be paid to a different bank account, please contact our Merchant support. A document that proofs the Merchant’s bank account ownership is required.