Steps to Upload for Mass Payout
To ensure a smooth and efficient mass payout process, follow these steps:
- Access the Merchant Portal: Log in with your merchant credentials.
- Navigate to Mass Payouts: In the sidebar menu, click on ‘Mass payouts’.
- Download the template CSV as the template for your Fiat Mass Payout CSV.
- Populate the template with your payout and beneficiary details
- Choose the Payout Currency: Click on the ‘EUR, GBP (local payment rails only)’ option to select it as the currency type for your mass payout.
- Select the Funding Virtual Account to use for the mass payout. This is the virtual account that will be used to fund the pay out file.
- Upload the CSV File: Click on the ‘Upload CSV’ area or drag and drop your file into the space. Ensure that your CSV file is less than 10MB in size for optimal processing.
- Batch Payments: For enhanced processing speeds, we recommend batching your payments in groups of 100.
File Format and Template Download
The CSV file will have the following format:
Amount
Payment reference
Beneficiary type
Transfer destination
Beneficiary business name (relevant to B2B payouts)
Beneficiary first name (relevant to B2C payouts)
Beneficiary last name (relevant to B2C payouts)
Beneficiary date of birth
Beneficiary country
Beneficiary account number
Beneficiary bank code
Beneficiary bank country
To ensure the correctness of the file and format, please use our predefined template for mass payouts that are available for download from within the BVNK Portal. The template outlines the required structure and fields for your CSV file, significantly reducing the likelihood of errors during the upload process.
Important to Note
Virtual Accounts with the enabled capabilities only will be able to successful complete the Fiat Mass Payouts. For example, if a Virtual Account is not enabled to complete a B2C payout, then uploading B2C payouts will not be processed for this particular Virtual Account.
If there are any questions, please reach out to your Account Manager or Customer Success Manager.
Processing and Error Handling
Upon uploading your mass payout CSV file, our system diligently processes each transaction row by row. Successful transactions are processed seamlessly. However, if there are any discrepancies or issues with specific payments, these will not halt the entire batch. The system will continue to process the rest of the file accordingly.
In the event of an error with one or more transactions, we will immediately notify you in the BVNK Portal. You can then edit each payment easily via the interface and make corrections. The payments will be highlighted with the errors that need to be updated.
For example, if you upload a file with 7 payments and encounter issues with 4 of them, the remaining 3 will be processed successfully. The 4 transactions with errors will be detailed, so you can quickly identify and rectify the issues.
Submitting Payments
Once you have cleared all the errors or removed the payments form your batch, you can submit the file and the payments will continue to process.
Successful Transactions
Successfully processed transactions will appear in the "Recent Transactions" section of the merchant portal as well as in the Payments table. All details related to the payment will be visible in these sections.