Settlement Flow

Settlement cycles are defined in Smart2Pay system. Based on this, Smart2Pay generates settlement invoices for each shop. Also, Smart2Pay generates a commission settlement invoice for The Marketplace.

The acquiring banks and alternative payment method providers settle to Smart2Pay the (Gross amount – Acquiring/Processing Fees).

  • Smart2Pay settles gross amount – operator commission – acquiring fees to each shop. Settlement frequency: weekly.
  • Smart2Pay settles commission to The Marketplace based on Transaction Log API exposed by the Marketplace. Settlement frequency: weekly.

Optional functionalities:

  • Subscription fee can be collected by Smart2Pay from the shops on behalf of the marketplace operator.
  • Manual credits / debits will be issued by The Marketplace towards the shops and performed by Smart2Pay.
  • The Marketplace can withhold the payment of certain transactions towards the shop (e.g. only the transactions with PaymentStatus marked as PAID will be settled).

Pre-Settlement Transaction API

Information about all the transactions created or updated within a certain interval can be retrieved by using an action based on GET HTTP request. The response will contain a transaction list in JSON format that returns all the transactions that were created or updated in the interval start_date – end_date.

Only a limited amount of details for each transaction will be provided.

Definition: GET /v1/transactions?{start_date}&{end_date}

Where:
  • {start_date} – format: {Year(4)}-{month(2)}-{day(2)}T{Hour(2)}:{Minute(2)}:{Second(2)}Z)
  • {end_date} – format: {Year(4)}-{month(2)}-{day(2)}T{Hour(2)}:{Minute(2)}:{Second(2)}Z)

Request Model:

GET /v1/transactions?{start_date}&{end_date}
Authorization: Basic Pre-shared-APIKEY

Response Model:

{
    "transactions": [
        {
            "amount": 0.80,
            "currency": "EUR",
            "date_created": "2018-09-17T12:55:08Z",
            "last_updated": "2018-10-12T00:00:30Z",
            "order_id": "34991440-A",
            "order_line_id" : "34991440-A-1",
            "payment_state": "PAID",
            "payment_batch_number": "000068",
            "refund_id": null,
            "shop_id": 6221,
            "shop_name": "Best Shop",
            "transaction_type": "COMMISSION_VAT",
            "vat_rate": 22
        },
        {
            "amount": 3.33,
            "currency": "EUR",
            "date_created": "2018-09-17T12:55:08Z",
            "last_updated": "2018-10-12T00:00:30Z",
            "order_id": "34991440-A",
            "order_line_id" : "34991440-A-1",
            "payment_state": "PAID",
            "payment_batch_number": "000068",
            "refund_id": null,
            "shop_id": 6221,
            "shop_name": "Best Shop",
            "transaction_type": "COMMISSION_FEE",
            "vat_rate": 24
        },
        {
            "amount": 0,
            "currency": "EUR",
            "date_created": "2018-09-17T12:55:08Z",
            "last_updated": "2018-10-12T00:00:30Z",
            "order_id": "34991440-A",
            "order_line_id" : "34991440-A-1",
            "payment_state": "PAID",
            "payment_batch_number": "000068",
            "refund_id": null,
            "shop_id": 6221,
            "shop_name": "Best Shop",
            "transaction_type": "ORDER_SHIPPING_AMOUNT",
            "vat_rate": null
        },
        {
            "amount": 10.00,
            "currency": "EUR",
            "date_created": "2018-09-17T12:55:08Z",
            "last_updated": "2018-10-12T00:00:30Z",
            "order_id": "34991440-A",
            "order_line_id": "34991440-A-1",
            "payment_state": "PAID",
            "payment_batch_number": "000068",
            "refund_id": null,
            "shop_id": 6221,
            "shop_name": "Best Shop",
            "transaction_type": "ORDER_AMOUNT",
            "vat_rate": null
        },
        {
            "amount": 1.60,
            "currency": "EUR",
            "date_created": "2018-09-17T12:55:08Z",
            "last_updated": "2018-10-12T00:00:30Z",
            "order_id": "34991440-A",
            "order_line_id" : "34991440-A-2",
            "payment_state": "PAID",
            "payment_batch_number": "000068",
            "refund_id": null,
            "shop_id": 6221,
            "shop_name": "Best Shop",
            "transaction_type": "COMMISSION_VAT",
            "vat_rate": 24
        },
        {
            "amount": 6.66,
            "currency": "EUR",
            "date_created": "2018-09-17T12:55:08Z",
            "last_updated": "2018-10-12T00:00:30Z",
            "order_id": "34991440-A",
            "order_line_id" : "34991440-A-2",
            "payment_state": "PAID",
            "payment_batch_number": "000068",
            "refund_id": null,
            "shop_id": 6221,
            "shop_name": "Best Shop",
            "transaction_type": "COMMISSION_FEE",
            "vat_rate": 24
        },
        {
            "amount": 0,
            "currency": "EUR",
            "date_created": "2018-09-17T12:55:08Z",
            "last_updated": "2018-10-12T00:00:30Z",
            "order_id": "34991440-A",
            "order_line_id" : "34991440-A-2",
            "payment_state": "PAID",
            "payment_batch_number": "000068",
            "refund_id": null,
            "shop_id": 6221,
            "shop_name": "Best Shop",
            "transaction_type": "ORDER_SHIPPING_AMOUNT",
            "vat_rate": null
        },
        {
            "amount": 10.00,
            "currency": "EUR",
            "date_created": "2018-09-17T12:55:08Z",
            "last_updated": "2018-10-12T00:00:30Z",
            "order_id": "34991440-A",
            "order_line_id" : "34991440-A-2",
            "payment_state": "PAID",
            "payment_batch_number": "000068",
            "refund_id": null,
            "shop_id": 6221,
            "shop_name": "Best Shop",
            "transaction_type": "ORDER_AMOUNT",
            "vat_rate": null
        }
    ],
    "total_count": 8
}

The transaction_type field contains the following information:

  • COMMISSION_VAT
  • COMMISSION_FEE
  • ORDER_SHIPPING_AMOUNT
  • ORDER_AMOUNT
  • MANUAL_CREDIT
  • MANUAL_CREDIT_VAT
  • ORDER_AMOUNT_TAX
  • ORDER_SHIPPING_AMOUNT_TAX
  • REFUND_ORDER_AMOUNT
  • REFUND_ORDER_SHIPPING_AMOUNT
  • REFUND_COMMISSION_FEE
  • REFUND_COMMISSION_VAT
  • REFUND_ORDER_AMOUNT_TAX
  • REFUND_ORDER_SHIPPING_AMOUNT_TAX
  • SUBSCRIPTION_FEE
  • SUBSCRIPTION_VAT

Only the transactions with payment_state = “PAID” will be settled in the current settlement cycle.

Shop Settlement Invoices

The total payout amount to be paid to the shop is computed using the below algorithm.

Algorithm: TPS (total payout shop) = TA – D2

Where:
  • TA (transfer_amount) = A – B – R – C – D1
  • A (order/taxes/fees) = A1 + A2 + A3
  • A1 = ORDER_AMOUNT + ORDER_SHIPPING_AMOUNT + ORDER_AMOUNT_TAX + ORDER_SHIPPING_AMOUNT_TAX
  • A2 = REFUND_COMMISSION_FEE (return the commission back to shop in case of a refund) + REFUND_COMMISSION_VAT
  • A3 = MANUAL_CREDIT + MANUAL_CREDIT_VAT
  • B (operator commission) = COMMISION_FEE + COMMISION_VAT
  • R(refunds) = REFUND_ORDER_AMOUNT + REFUND_ORDER_SHIPPING_AMOUNT + REFUND_ORDER_AMOUNT_TAX + REFUND_ORDER_SHIPPING_AMOUNT_TAX
  • C (non transactional fees) = SUBSCRIPTION_FEE + SUBSCRIPTION_VAT + MANUAL_INVOICE + MANUAL_INVOICE_VAT
  • D1 (Acquiring Fees) = FIXED_FEE + %_FEE * A1
  • D2 (Settlement Fees) = FIXED_FEE + %_FEE * TA

Marketplace Operator Invoice

The total payout amount to the marketplace operator is computed using the below algorithm.

Algorithm: TPM (total payout marketplace) = CO – D2

Where:
  • CO (commission amount) = B + C – A2 – A3
  • B, C, A2, A3 – as defined in Shop Settlement Invoices section
  • D2 (Acquiring Fees) = TBD_FIXED_FEE + TBD_%_FEE * CO