Payout process at CopeCart (INT)
Payouts at CopeCart are not issued immediately but are scheduled at consistent intervals, which could be weekly, bi-weekly, or monthly based on your selected preference.
The payout dates are planned to be sent on the 7th, 14th, 21st, and 28th of each month.
Should a scheduled payout date coincide with a weekend or US bank holiday, the payout will be processed on the next business day.
80% of commissions earned are available 14 days after receipt of the money but are sent on the earliest payout date.
For security reasons, the remaining 20% is available 40 days after receipt of the money but is sent on the earliest payout date. (In some cases, there are chargebacks and returns of received revenue from vendors and affiliates. To protect their accounts from excessive transaction costs and other financial risks, Copecart keeps a security deposit as a precaution).
For instance, if a sale is made on February 1, 2024, 80% of the funds will be available on February 15th, but will be paid on the nearest payout date, which is February 21st. The remaining 20% will be available on March 12th (40 days after the purchase was made) and will be paid on March 14th.
***more examples pending to
If the payout date falls on a US bank holiday or weekend, the payout will be sent on the next business day. For example, October 14th is a US bank holiday (Columbus Day), and the payment will be sent on October 15th. Additionally, if the first payout date of the month falls on a Saturday or Sunday, all payouts for that month will be sent on the next business day.
Fast payouts
some vendors ask to process a fast payout, in order to activate the fast payouts on their account, they must reach some requirements.
When a vendor requests a last payout and we reach the first requirements, we can must send this message (macro 200 Fast payout request):
Dear (Vendor Name),
We acknowledge the significance of your request to modify the payout structure and expedite payouts for your account, making 80% of each transaction available after 7 days instead of 14. To determine the eligibility of your account, kindly provide us with a transaction summary for the past six months directly from your previous payment processor (please note that screenshots and CSV exports might not be helpful for us to obtain the information we are looking for). This summary should include all successful transactions, refunds, and chargebacks. Upon receiving this information, we will thoroughly review it and communicate our decision to you within 48 hours.
Sincerely,
CopeCart US team
When they submit the info, we must share it with the Finance team and if they approve it we can let the vendor know (macro 201 Fast payout request approved):
Hello there,
We are delighted to share with you the good news that your request for Fast Payouts has been approved! This means that starting from the next payout date, you will be able to enjoy this special condition. We truly hope that this will serve as a great motivation for you to keep selling through Coprcart and see a significant boost in your sales.
Best regards,
CopeCart US team
to enable the fat payouts, please ask Luis, Abigail, or Marco to enable it from the feature flags, and provide the vendor's ID.
in case their request is denied, we send the following message (macro 202 Fast payout request denied):
Hello there,
We regret to inform you that your request has been denied. However, we would like to extend an invitation for you to improve your monthly revenue and decrease your refund/chargeback rate. If you are interested, we would be more than happy to schedule a call with you to discuss effective strategies for increasing your sales. Please let us know if this is something you would like to pursue.
Best regards,
find more details on Notion