Discount service
In this article:
Overview
The main purpose of the discount service is to improve the business cash flow.
Registration to the service allows you to get paid earlier on a future installment paid by your clients.
In this service, the full amount of an installment’s transaction will be transferred to the bank account on the first installment date and not according to the proportionate amount of the transaction as the acquirer’s default funds schedule.
The fees calculation is made from the second installment, meaning - in a three installments transaction, we will charge a fee for only two installments and the first installment will be without discount fee. Assuming that the discount fee is 0.6% for each installment, the calculation will be 0.5% double the two installments = 1% discount fees added to the processing fee.
Please notice, joining the service will depend after review and approval by our Risk Management Department.
installments transactions that were made before joining the discount service cannot be paid earlier.
Want to know more about installments transactions? Click here
How to enroll?
Simple steps to enrollment:
From your PayMe dashboard, go to Apps Marketplace, in the Finance and billing category -> Discount Service and Click Setup.
Click Activate app and agree to the Terms & Conditions.
Now, a green window will pop up on the top right corner confirming that a request sent to our Risk Management Department.
We will review your application and update it by email within 2 business days.