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Kiosoft Payment Frequency

Outlines the payout frequency and timing for transactions processed on a Kiosoft card reader and statement details

Michael Davis avatar
Written by Michael Davis
Updated over 2 months ago
  • Transactions are captured Monday-Sunday.

  • Payments have a one week reconciliation period following the week of transactions

  • Payments are made the week following the reconciliation (approximately 2 weeks) after the transactional period week

  • Statements are emailed weekly every Friday to the single owner of the individual that signed up for an account

Sample Payout Frequency

- Example 1: Transaction made on Wednesday January 8th

  • This transaction would be part of transaction for Monday Jan 6th - Sunday Jan 12th

  • A one week reconciliation period be from 13-19th to allow for settlement time of funds

  • This transaction would have an estimated payout date of Friday Jan 24th. Payouts are approximately 2 weeks following the week of the transaction and delivered by that Friday.

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