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
Still waiting for your first payment?
Kiosoft allows for test payments before initiating the monthly charge. The funds for these transactions are collected and paid out once your terminal starts regular transaction volume.
So for example, you complete 2 test charges, then your machine does not sell actively for another month. These payments will not be reconciled until the pay period (2 weeks) following your first week of regular activity.
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.
