Transfers in Pinch Payments

Overview

A Transfer in Pinch Payments represents the settlement of funds from collected payments to a merchant's bank account. When payments are successfully processed through Pinch, the funds are batched and then transferred to merchants. Each transfer provides a complete record of the settlements, fees, refunds, and any dishonoured payments that make up the final amount deposited into the merchant's account.

What is a Transfer?

A Transfer is created whenever there are payments ready to be settled to a merchant's bank account. Each transfer contains the following key information:

• Successful payments (Settlements) - Payments that have been successfully collected
• Failed payments (Dishonours) - Payments that were initially processed but later failed
• Refunds - Any refunds issued against successful payments
• Application fees - Any additional fees charged on the platform
• Processing fees - Pinch's fees for processing the payments

The transfer amount represents the net value after deducting all fees from the gross collection.

Why Transfers Happen

Transfers occur as part of Pinch's settlement process. Here's the typical flow:

• Payment Collection - Payments are collected from payers via bank account (direct debit) or credit card
• Processing - Payments are processed and sent to the bank/payment provider
• Bank Results - Results come back indicating success or failure
• Settlement Creation - Successful payments create settlement records
• Transfer Creation - Outstanding settlements are grouped into transfers
• Transfer Export - Transfers are exported and sent to banking partners
• Funds Deposited - Money arrives in the merchant's bank account