Below is a quick overview of the online payment processes when a credit/debit card transaction occurs upon booking of a service/experience:
Once a customer completes a booking and payment is materialized online through Triparound, the customer, the Business and any involved external partner (suppliers) receive an email notification confirming the transaction. The Business and the external partner (supplier) have access to more detailed information about the booking within the Triparound platform.
Depending on the account settings, the payment is transferred to the appropriate bank account either on the Monday after the activity is booked or the Monday following the activity’s execution date. Bank processing fees are automatically deducted before this transaction occurs.
The Business and the supplier need to invoice the customer for the actual service depending on who owns/operates the service. More on that can be found below. The Business doesn't need to invoice Triparound for that transaction. As outlined in the terms & conditions, Triparound acts as a facilitator by integrating with payment gateways to process these payments.
Different handling based on the owner of the activity
You may handle online payments differently, depending on whether the service is provided by your Business or by an external partner.
1. Payments for services provided by your Business
Example: A customer books a spa service owned by your business for €100 and pays online via Triparound.
Bank transfer: The net amount transferred to your Business's bank account will reflect the deduction of bank processing fees.
€100 (selling price) - [(2.5% + €0.30) bank fees] = €97.20 (revenue)
Invoicing: Your Business should invoice the customer for the full amount (€100) while the payment gateway solution will invoice Triparound for the bank processing fees (€2.5 +€0.30).
2. Payments for services provided by external partners
Example: A customer books a transfer service for €100, your agreement with the external partner includes a 10% commission and the Enable payments on Supplier function has been activated.
Bank transfer: The amount transferred to your bank account will reflect deductions for both the supplier's commission and bank processing fees. Supplier payment will automatically be transferred to the supplier's bank account.
€100 (selling price) - €90 (supplier payment) - [(2.5% + 0.30€) bank fees] = €7.20 (revenue)
Invoicing: The external partner invoices the customer for the full amount (€100), while your Business should invoice the partner (supplier) for the commission (€10 for the Customer Referral). The payment gateway solution will invoice Triparound for the bank processing fees (€2.5 +€0.30).
Note:
The amount of the bank processing fees is reflected as Paid on the Services fee invoice you receive every quarter from Triparound where Triparound service and bank processing fees are included.
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