Activitar and PayGenius: Industry first Automated Settlement

Posted by Activitar on May 31, 2021 · 5 mins read

25 May 2021

Activitar continues our announcements of powerful features added to our system.

Overview:

Activitar is pleased to advise that an Automated Settlement feature is now part of its Site Engine Network. This is a cross selling marketplace where our members sell through each other’s website by agreement. We have released this much demanded feature that will boost your beneficial participation in the proprietary Activitar web booking network.

Selling through web sites of your fellow activity providers by agreement and in exchange for a revenue share is great. It is simple to set up via Activitar. However, collecting sales income or paying over the sales income required financial admin and cash flow management. This caused a degree of hassle, use of time and element of risk that detracted from the distribution opportunity.

The process is more complicated in the event of a cancellation where a refund may be required. This issue also eliminates the option to settle participants upfront at time of payment collection.

What was needed was a solution where a payment for a booking would be collected to a secure central trust account. It required a payment transaction process that includes data setting out who participating merchants are, the individual settlement values and the required settlement date.

Without any intervention required from your side, settlements to all participants involved in a booking or combo booking will always be dispatched two days after the activity has taken place. All settlements would be notified and reported on in real time with settlement statuses updating automatically as soon as the settlement is dispatched.

Activitar and PayGenius built a partnership to jointly work on the creation of this solution. Together the companies have now delivered a first for the South African activities and attractions industry. After a beta trial with a number of key suppliers the solution is now available on production.

Activitar Automated Settlement on the proprietary Activitar Site Engine Network will add real value as companies build back their businesses after the pandemic.

Customer Value:

The Auto Settle Solution completes the Activitar Site Engine Network cross selling feature.

The auto-settle feature removes all admin worries and settlement risk. This means a network booking can now have a completely automated and guaranteed risk free Automated Settlement with appropriate reporting at your fingertips. And it is now available for all settlements between the parties involved on a SEN booking who are contracted to both Activitar and PayGenius.

The selling participant will get settled their commission automatically. In the same manner the operating participant (or participants in the case of a combo of activities from various suppliers) will automatically receive the net-rate settlement(s) for the booking. Settlement of all participants occurs 2-days after the activity successfully took place (guaranteed) to provide for all refunds or partial refunds to be completed.

The funds being settled simply move from the PayGenius Super Merchant account to the individual merchant’s account with Paygenius. Activitar tracks and reports the settlements.

Prerequisites:

  1. Active Activitar Supplier Account
  2. Active Payment Gateway Account with Paygenius

Main Benefits:

  • This fulfills the opportunity to maximise your distribution across the websites many participating network partners
  • Full transparency on the settlement transaction from the moment of booking.
  • The guaranteed settlement dates eliminate all risk of settlement delays.
  • No more manual admin to pay commissions over to the network suppliers or to follow up on collections of payments due to your business.
  • The supporting report keeps track of when to expect the funds transfer in your favor and when funds you owe will be paid out to your creditors.
  • No Setup fee cost with Paygenius.
  • No funds are retained on hold in your account with Paygenius but 100% is paid out on the due date.

To request a Demonstration on Activitar, do so via the website or if you have any additional questions, please get in touch with us via the below contact information shared:

Activitar Sales Manager: Dirk Ingram
Email: dirk@activitar.com
Cell: +27 76 251 2441

Activitar Support Team
Cell: +27 61 541 3986
Email: support@activitar.com

25-05-2021_Activitar News