Definitions

Definition of Recurring and real-time payments:

Recurring – Scheduled payments from bank accounts and credit cards

Real-time - Online payments from credit cards (note: some recurring payments can be sent to Payrix as real-time depending on partner software integration)

Definitions of ‘Paid By’ options:

Paid By Business – This means that your business will pay for this fee

Paid By Payer - This means that your Payer will pay for this fee

Paid By Profiled (Not applicable to all) – This means that your partner software dictates whether the fees are paid by your business or the Payer

Definitions of ‘Paid To’ options:

Paid To Payrix – This means that the fee is paid to Payrix for the services provided (i.e. processing of transactions)

Paid To Business – This means that the fee is paid back to your business (i.e. initial fee paid by the business, then the payer is charged on the next successful transaction and paid back to the business as per the below example)