Payments & Operations

Collections

Digital Payments made simple! No more hurdles in collecting payments worldwide. With our collections product, you can easily accept digital payments and get settled in fiat.
How can I check status of the amount received

To check if the amount has been received or not, the merchant can always check the status of payment under the Transactions section. Status “Completed” means the payment was received successfully and will be settled as per the terms.

How can I keep track of the payments I have received?

Merchant can always track the status of the payment request from transactions section. The product offers realtime updates on every collection payment request generated by the merchant.

How do I know when to deliver my services?

The merchant shall wait till the final status of the payment under Transactions section s marked as Completed

I didn’t receive my settlement, what can I do?

The settlement timeframes differ based on currencies and timezones. In case the settlement is not received within the specified duration, merchant can always contact the TransFi support team by accessing the Support functionality available on the platform.

How long does it take for my payment to be confirmed?

The payment confirmation varies from Instant to upto 2 days depending on the jurisdiction and payment method selected to make the payment.

Is KYC Mandatory for my customers?

Yes, KYC of customers(payers) is mandatory to adhere to the compliance standards of TransFi.

What are the different roles and Permissions Accessible in Collections Product?
  • There are the following roles applicable to any business using collections product:
    Admin, Maker, Checker , Finance manager
What do I do if my customer makes an over/underpayment?
  • In case the customer makes an overpayment, the payment request will be marked as Overpaid under the Transactions section and TransFi will automatically adjust the balance with the next invoices to the same payer. 
  • In case the customer makes an underpayment, the payment request will be marked as Underpaid and the merchant can request the payer to use the same payment link to pay the remaining balance.

Which currencies and digital assets are supported in Collections Product?

All local fiat currencies (PHP,EUR, IDR etc) are supported for collections product. The merchant can choose the settlement currency between USDT and USDC currently.

Why was my payment not detected?

In case the payment status is not updated in the transactions section, you should contact the Support team at TransFi. The payment may not be updated at times due to delays at banking partners end or a failure in the compliance checks, for which the TransFi team will get in touch within 24 hours of payment blockage.

Ready to simplify global payments?

Send, receive, and swap funds worldwide with ease and transparency—across 70+ countries and 40+ currencies.