As a payment platform, FlipPay operates a range of payment services and options, and processes payment in/out in real-time.
When your merchant account is created, FlipPay allocates a virtual bank account to you which includes a BSB/account and a PayID.
You can always view these account details using the portal via "Settings | Account configuration | FlipPay bank details". This account and it's details won't change - you can save these details in your CRM, accounting solution or online banking
FlipPay's platform will relate any payment received into this account to you, before seeking to reconcile further detail such as reference, amount, sender etc. If you send funds to FlipPay and don't target the right account, or don't provide the PRID, you're likely to create delays in reconciliation and we may need to contact you for further information.
To save time/confusion, include the PRID in every payment to FlipPay.
Merchants making a payment to FlipPay
Where FlipPay has directly financed your business (e.g. invoice finance), check the details of the finance option to confirm it will direct debit your account if a repayment is not received by the agreed date - this is the standard approach, but some specialist options can be configured to require an EFT from you instead of a direct debit.
To make a payment to FlipPay on a finance option:
Using the portal, find the specific agreement you want to make a payment on, and view/open it
Tap "see more" and scroll to view the "Disbursements & Payments" section
Use the details under "Direct payments/repayments to" to make your EFT
Make sure you include the PRID as a reference on your transfer - not including this can incur delays in reconciling your payment
To save time/confusion, include the PRID in every payment to FlipPay.
Your customers making a payment to FlipPay
These finance options will typically auto-debit the your customer if a payment is not received prior to an agreed deadline.
In the case where the repayment is required to be made prior to that initial deadline, and a customer is making that payment directly, they'll so do by:
Using the customer portal
Trigger a debit on their registered payment method, or
View FlipPay's bank account details to EFT/PayID funds to FlipPay
Asking you for FlipPay's bank details - provide the same virtual bank account you use to make payments
Again, we request that you ensure customers include the PRID in every payment to FlipPay.
Your customers making a payment to you (via FlipPay)
For most customer-facing finance options, card and EFT payment options via FlipPay will be displayed on the payment page by default alongside the finance option.
When a customer chooses to pay a request from you immediately via card or EFT (instead of taking up a finance option), that payment is made to FlipPay (using the virtual bank account allocated to you), reconciled to your payment request and disbursed to your preferred bank account.
This process occurs in real-time - instantly as we receive the funds, we'll reconcile, process and disburse to you (depending on your bank, you'll receive the funds instantly or a few days later).
Again, we request that you ensure customers include the PRID in every payment to FlipPay.