Note: This document is pending verification. Submit a Support ticket if you have questions about Advanced Settlement. 

Advanced Settlement overview

Advanced Settlement is a product offered by Worldpay that enables Payment Facilitators to use Worldpay’s settlement engine. Under Advanced Settlement, the merchant can be boarded with multiple different bank accounts that can be set to receive specific types of funds. This is currently available on the VANTIV_V1 processor. 

Requirements

Below is a list of requirements that must be met before Advanced Settlement can be enabled for a Finix Payment Facilitator.  Please allow 24-48 business hours for Finix to complete the requirements. 

1. White-labeled customer Dashboard
2. A deployed configuration for the white-labeled Dashboard with Advanced Settlement selected 
3. VANTIV_V1 processor configured

User workflow 

This workflow is a high-level overview of how to onboard a new merchant onto Finix’s Dashboard and how to enable the merchant to use the Advanced Settlement feature. 

Note: This workflow uses mock data from Finix’s sandbox environment.  

1. Navigate to the PEOPLE header, and click on Applications.  Click the Create Application button. A new screen appears. Enter the customer provided business and processor information. Complete all the fields. This creates a new application.

Note: Creating an Application is an optional step if an application for the merchant does not exist. 

2. Under the application, select the IDENTITIES tab and click the Create New Identity button.

3. Complete the form and click the Submit button to save your changes.

4. Click on the application link to display the identities details page. Click the PAYMENT INSTRUMENTS tab on the top navigation. Click the Add Bank Account button and enter the customer provided information. 

5. Click the Submit button. Enter multiple bank accounts.  Advanced Settlement allows a Payment Facilitator to choose from and use multiple bank accounts. The bank accounts appear in the table.

5. On the PROCESSORS tab on the top navigation, click on the Provision Merchant button. The Enable identity merchant pop up modal appears. 

Under the Advanced Settlement Bank Accounts drop-down, select the appropriate bank accounts to use for Advanced Settlement. Click on the down chevron next to the bank account to see additional details. Click the Enable button. 

6. The merchant information is sent to Worldpay. The merchant’s status in the Dashboard is “Provisioning” until it is either Approved or Rejected. Click on the Merchant link to view additional onboarding progress details. 

When the merchant is successfully boarded, the State changes from “Provisioning” to “APPROVED”.