Settlement payments are triggered from the time the order is approved by Spotii and are processed as per the following:
- Settlement payments will be made based on the agreed settlement processing time (typically within 2 business days).
- An email is sent to the Merchant account email address (if configured) summarizing the total settlement payment amount to be paid.
- Spotii platform fees are calculated and deducted from the amount to be paid to the Merchant at settlement.
- Settlement disbursement to Merchants are made via bank transfer or as agreed with Merchant.