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Getting started with Refersion Pay
Getting started with Refersion Pay

Everything you need to know about enabling Refersion Pay on your merchant account to automate affiliate commission payments

Shakima avatar
Written by Shakima
Updated over a week ago

Important Note: This feature is no longer being offered to new clients. Please reference either our PayPal Payouts integration or our Trolley integration as alternatives.

Refersion Pay is an easy way for merchants to streamline payments and taxes for their affiliates. By enabling Refersion Pay, you’ll strengthen your affiliate relationships — building trust and keeping them motivated to drive sales so you can focus on growing your affiliate program.

Please note: Refersion Pay is only available for US-based businesses that pay affiliates in USD to a US-based bank account.

How it works

  • For all affiliates who have signed up to receive direct monthly payments through Refersion Pay, their approved conversions will be added to Refersion Pay.

  • Refersion will make a withdrawal from your bank account every Friday at 9 am to fund an e-wallet that will be used to pay the affiliates for these approved conversions that are part of Refersion Pay.

  • On the day of the month that you specify, Refersion will transfer funds from your e-wallet to pay your affiliates.

  • When Refersion Pay is enabled for your account, any pending conversions that have not been processed will be auto-approved 90 days after the conversion was created. You’ll receive a reminder before this happens so you’ll always be able to approve or deny them yourself.

  • During tax season, you and your affiliates will receive 1099’s for all payments made through Refersion Pay.

Getting started with Refersion Pay

There are a few steps required to set up Refersion Pay, all outlined below. However, once you’ve completed the onboarding, you’ll be on your way to automating commission approvals, payments and managing tax information for your affiliates.

  1. Enable two-factor authentication on your account
    Two-factor authentication provides an additional layer of security for your account, protecting you and your affiliates from an unauthorized user gaining access to sensitive tax and payment information. For the protection of your business and your affiliate's information, we require all businesses to enable two-factor authentication before enrolling in Refersion Pay. You can learn more about enabling two-factor authentication for your account here.

  2. Enter your business’s tax information:
    Once you’ve upgraded, you’ll see Tax Management as a new header option within your Account page. Please click on that tab, read the description, and press Continue when ready.

    Refersion partners with TaxBandits to help manage your tax forms and compliance for your affiliates. You’ll need to enter your business's tax information in the Tax Bandits portal to start the set-up process; you’ll launch right into this within Refersion.

    Note: The tax validation is usually completed quickly; however, it’s possible for the verification to take between 3 - 5 business days.

  3. Enter your business and banking information for Payments :
    This is a two-part process, each of which requires varying waiting periods for processing and approval. You’ll get started from Account → Payout Methods within Refersion.

    1. Know Your Business (KYB) form:
      This is a form submitted to our partner Rapyd as a compliance check to verify your business as a part of our due diligence. This form will ask for information about your business and who owns the business. If you do not know this information, we recommend looping in your CEO or a registered agent to help complete the form.

      Once submitted, it can take 1 - 3 weeks to verify and approve. You’ll receive an email notification once approved, letting you know it’s time to proceed to the next step.

    2. Enter your banking information:
      Once your KYB form is verified, you’ll enter the bank information where you’d like Refersion to withdraw the funds to pay your affiliates. Once completed, there will be a second 5 - 7 day waiting period to verify these details. You will receive an email confirmation for this step as well.

Configuring your Refersion Pay settings

Once your banking information is approved, you’ll be able to complete the setup by confirming two settings:

  1. "Number of days to wait before issuing payment": This setting is a hold period that ensures conversions are approved for a set number of days before they're eligible to be paid out on your set monthly payment date.

    Example: Sally makes a successful customer referral on August 1st and earned $10 commission. The conversion is pending approval by your team. The conversion is then approved by your team on September 1st. You set the number of days to wait as "7 days". This conversion would not be eligible for payment until September 8th.

    Let's say September 10th is Friday, and it's time for Refersion to pull funds from your bank into your Refersion Pay e-wallet for eligible commissions; the $10 commission plus any other eligible commissions would be part of the amount of money withdrawn from your bank account and added to the e-wallet since the conversion has been approved for at least 7 days.

    This hold period will allow you to account for possible product returns and also allows time to allocate funds to your e-wallet.

  2. The date of each month that you’d like to issue payments. For example, you may choose to process payments on the 15th of each month.

As part of the setup, you’ll see an option to inform all of your affiliates about receiving direct monthly payments through Refersion Pay. Simply check the box before you complete the set-up to send the email to all of your affiliates. If you’d like to preview the email before sending it out, you can click “View Email Template” to see the sample email before it goes out.

If you decide not to check the box during your set-up, you will have to send your affiliates an email outside of Refersion. Once they log in to their dashboard, they will also see a banner prompting them to sign up for the Refersion Pay direct monthly payments.

Important note! These selections can only be edited once every 30 days! Once you click Complete Setup, they will be locked for 30 days. This includes the payment window and payment date selection, as well as whether or not to send this email.

That’s it! If you have any questions, we've provided some answers to commonly asked questions in this Refersion Pay F.A.Q article. You can also reach out to our Customer Success team via in-app chat or shoot us an email at [email protected].

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