Settlement management

To obtain admin tokens for utilising Revio's Settlement API, you will need to reach out to Revio's support team. Our team will be able to help you acquire the necessary tokens for your account and ensure a smooth integration process.

Getting going

In order to set up settlements for a client (Merchant), you will need access to the bank account where the Merchant's collected funds are paid into. Revio's settlement engine enables you to:

• Access creditor's statements
• Reconcile existing collections and payments
• Settle payments to creditors automatically on specific dates
• Split payments between multiple creditors

How the reconciliation process works

• The reconciliation engine initiates a reconciliation process every hour and reads the Merchant's bank statement
• The reconciliation process matches collection results to the relevant merchant bank statement
• If successful, a statment_id field is added to the collection result

How the settlement process works

The scheduler kicks off a settlement run twice a day and executes the following:

• Validates each merchant profile and checks if a settlement has been configured (via the configuration endpoint)
• The Settlement service collects all collections that have been successfully reconciled but not yet settled for the relevant merchant profile
• Based on the settlement configuration, a settlement is created with payments for each required party/creditor
• The settlement object is updated in the database and marks all collections with the settlement id