In a continued effort to enhance merchant experience, eligible merchants may request to be paid a portion of the current Total Cost of their recently confirmed fulfilled orders as an Early Payment. Starting March 2, 2020, all orders that are confirmed fulfilled after this time will be eligible for this new feature, Early Payment. As more eligible orders from their stores are confirmed fulfilled, the amount that eligible merchants may request for Early Payment will also update. Therefore, eligible merchants should continue to fulfill orders to be eligible for additional Early Payments requests in the future.
The requested Early Payment amount will be included in their next payment disbursement, and it will be evenly deducted from the four payment disbursements immediately after the next disbursement; each deduction will be 25% of the total repayment amount and will also include a fee of X%.
Note: Your Early Payment request will be processed by the end of the current payment disbursement cycle. If you submit more than one Early Payment request within the same payment disbursement cycle, only the latest request will be processed. The Amount Available for Early Payment, which is shown on the Early Payment page, will be eligible for an Early Payment request starting from the day after each payment disbursement date until the day before the next payment disbursement date. As a result, merchants will not be able to submit an Early Payment request on a disbursement date (i.e. the 1st and 15th of every month). The Amount Available for Early Payment will reset on each disbursement date.
Eligible merchants should take advantage of this new feature to receive a portion of their payments earlier, which merchants may then use to further invest in and grow their business and operations!
How to submit a request for Early Payment:
1. If you are eligible to request an Early Payment, you will see the following message “Good news! You are eligible to request an Early Payment based on the Total Cost of your recently confirmed fulfilled orders.” in your Account > Early Payment page:
2. After you click on the “Request Early Payment” button in the message box above, you will see the following popup modal. You are eligible to request to receive up to a portion of your current Total Cost of your recently confirmed fulfilled orders as an Early Payment. The maximum amount that you may request to receive as an Early Payment depends on your current Total Cost of your recently confirmed fulfilled orders, and therefore may be updated accordingly as your Total Cost of your recently confirmed fulfilled orders changes from time to time.In the Early Payment Amount field, indicate the amount that you would like to receive as an Early Payment. The requested Early Payment amount will be included in your next payment disbursement. The Early Payment amount will be evenly deducted from the four payment disbursements immediately after the next disbursement; each deduction will be 25% of the total repayment amount and will also include a fee of X%. See below screen that indicates the four Payback amounts:
The Detail Information section of the modal outlines the Early Payment amount requested, its disbursement schedule (“Will be paid on” date), as well as the payback schedule in four installments:
After checking everything is accurate, please click “Confirm” to proceed.
3. Next, review the information on the Confirmation screen, and acknowledge and accept the terms.
4. After you confirm your request, you will see the following success screen.
After clicking “OK”, this Early Payment request is now submitted. The request now shows in the Early Payment page for your record; the “Status” of this new request is currently “Open”:
Again, as more eligible orders from your store are confirmed fulfilled, the amount that you may request for Early Payment will also update. Therefore, continue to fulfill orders to be eligible for additional Early Payment requests in the future!