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Settlement Terminology

Open Balance

Open Balance refers to the outstanding funds owed by Riverty to the merchant. It represents the total amount of transactions processed through the Riverty service that have not yet been settled or paid out to the merchant. This includes the value of purchases made by customers using Riverty, minus any applicable fees or deductions.

Payout Delay

Payout delay , as outlined in the contract with Riverty, refers to the predetermined period within which funds from transactions will be settled to the merchant's account. For instance, if the contract specifies a 16-day payout delay, it means that funds from transactions processed through the Riverty service will be transferred to the merchant's account during the first settlement run following the 16-day period.

Advanced Payment Limit

Advanced payment limits refer to the maximum amount of advanced payout that a merchant can receive from Riverty. These limits are set based on several factors, including the financial health of the merchant, its credit history, and its transaction volume processed with Riverty.

Holdback Amount

The total holdback amount, presenting the amount that Riverty is holding back (rolling reserve). Reason for holdback is merchant surpassing exceeding the advanced payment limit (credit limit) amount, which covers for future refunds or other security reason.