Fiskl Payments is the newest hassle-free way for you to accept both credit card payments online and bank transfers for all your invoices.

Fiskl Payments is currently available to users in the US and Canada. The person who signs up must be a financial representative of your company and must be an account holder on the bank account you plan to receive your funds into.

Its easy to set up

  • Click on your company name at the top left of the screen and select Integrations.

In order to create a Fiskl Payments account you must hold either a US or Canadian bank account.

Mobile
Web
  • Go to Fiskl Payments and click on “Connect”.

Prices depend on the country where you are located.

  • If you have subscribed to one of the Fiskl paid accounts, at the next screen select “Connect”.

US

Canada

  • If you are on a free account, select “additional fees” to see further details.

US

Canada

  • The fees will then appear.

US

Canada

Prices depend on the country where you are located.

  • If you have subscribed to one of the Fiskl paid accounts, at the next screen select “Connect to Fiskl Payments”.

US

Canada

  • If you are on a free account, select “additional fees” to see further details.

US

Canada

  • The fees will then appear.

US

Canada

  • Once you have clicked on “Connect” simply enter your name, email address and password and click on “Grant Access”, you will then receive a verification email from “Fiskl via WePay”, click on “Confirm your email” to verify your account and return automatically back to Fiskl.
  • Signing up for Fiskl Payments means you can start accepting payments online within minutes! Once you’ve signed up with your name and email address, you’ll receive an email prompting you to finish setting up your payments account. Follow the instructions in the email to secure your payments account with a password. Upon doing so, you’ll be ready to start accepting payments through your Fiskl Payments account.

For more detailed information regarding Fiskl Payments and WePay please click here.

Your Fiskl Payment account will be selected as your default payment method when sending your invoices.

Completing the Fiskl Payments form

Why do I need to provide my SSN[/SIN/]?

When you verify your account to accept credit cards through WePay, you will be asked to provide your US Social Security Number (SSN) or Canadian Social Insurance Number (SIN). WePay requires your SSN/SIN to comply with federal and state regulations. Part of their responsibilities involves verifying your identity and confirming the legitimacy of your business. Collecting this information allows them to automate parts of this process so that you can start accepting payments quickly. WePay does not run credit checks, which means that signing up for a Fiskl Payments account will not affect your credit score. WePay and Fiskl do not use this information for any other purpose, and we take your privacy and the security of your data very seriously.

Where can I find business type?

If you’re signing up for a Fiskl Payments account as a business or non-profit organization, you will be asked to provide your business type in order to fully verify your account. This information can be found on the paperwork you filed with the IRS to legally form your business. If you did not file with the IRS, you are likely a sole proprietor or independent contractor.

What is an EIN?

An Employer Identification Number (EIN) is a federal tax identification number used to identify a business. Your EIN can be found on the paperwork you filed with the IRS to legally form your business. If you did not file with the IRS, you likely don’t have an EIN. All Fiskl Payments users, including those with an EIN, are also required to provide their Social Security Number.

How soon after I sign up can I begin accepting payments?

Signing up for Fiskl Payments means you can start accepting payments online within minutes! Once you’ve signed up with your name and email address, you’ll receive an email prompting you to finish setting up your payments account. Follow the instructions in the email to secure your payments account with a password. Upon doing so, you’ll be ready to start accepting payments through your Fiskl Payments account.

I’m already using another payments gateway and merchant account provider to accept payments. How do I make Fiskl Payments my default payments processor?

If you have another active payments account setup such as Stripe, you can connect Fiskl Payments as well. Fiskl give you the flexibility to select a payment provider for each specific invoice so you can better control payment fees and timelines. By choosing Fiskl payments, you can benefit from lower transaction fees and faster deposits as well as other transfer methods such as ACH (direct bank transfer).

Getting Paid: Processing Transactions

What will my customer see on their bank statement?

Once your customer makes a payment through Fiskl Payments, the transaction will appear as [“WPY*yourcompanyname” on their credit card statement, where “Your Company Name” refers to the account name you provided during sign up.] Also, when the client finishes the checkout process, a message will appear to notify them of this statement. It is important that your customer is familiar with how the transaction will appear on their credit card statement, as to reduce the rate of chargebacks due to unrecognized charges.

Why was my customer’s payment declined?

There are a number of reasons why your customer’s payment was declined. Common causes include:

  • The card type is not supported
  • There are insufficient funds on the card
  • The card was reported lost or stolen
  • The card has expired
  • The payment violates our Terms of Service
  • The information entered during payment was incomplete or invalid (ie. name on card doesn’t match name entered)

If a transaction was declined for risk reasons, you will be contacted by the WePay team with a notification. WePay helps Fiskl process the payments on the back end and handles all risk and fraud prevention measures to ensure that online payments through Fiskl happen in a safe and secure way.

What is a chargeback?

A chargeback occurs when a credit card holder contacts his or her bank or credit card company to dispute a charge on his account. Common reasons for chargebacks include:

  • The cardholder does not recognize the charge on his or her statement
  • The cardholder did not receive the product or service
  • The cardholder was unsatisfied with the product or service
  • The cardholder’s credit card was stolen or used without their permission

When a chargeback is issued, the total amount of the chargeback is deducted from the available balance in your Fiskl Payments account and held in reserve until the chargeback process is complete. You will also be charged a fee non-refundable chargeback fee. If the funds in your Fiskl Payments account isn’t sufficient to cover the amount of the chargeback and fee, the bank account you have on file will be debited accordingly. If you concede the chargeback, you accept responsibility and the money is not returned to your account. If you challenge the chargeback, you have the opportunity to reclaim the funds though this is not guaranteed.

What can I do if I receive a chargeback? Can I dispute it?

WePay will notify you by email if you’ve received a chargeback.

The best thing you can do when you receive a chargeback is to contact your customer immediately. If you remind your customer of the service or goods that were delivered, the customer can contact their bank and cancel/reverse the chargeback process. This is by far the fastest and most effective solution.

If this doesn’t work and if you choose to challenge (rather than concede) the chargeback, the process can take up to two months from the date of the chargeback. The email you would have received from WePay will explicitly detail the transaction in question. It will also have a ‘challenge’ button so you can gets started on challenging the chargeback.

Once WePay receives your chargeback challenge and any supporting documents (detailed in the email), they will contest the chargeback on your behalf with the appropriate credit card association or issuing bank. If you win the chargeback, WePay will immediately send you a notification and release the disputed funds back to your account.

IMPORTANT

From the moment the chargeback is issued by your customer, you have 2 business days to challenge it. If you do not respond, you automatically concede the chargeback and the refund gets processed to your customer.

What happens if I accrue multiple chargebacks?

It’s important to maintain a low chargeback rate. A high chargeback rate can result in slow payment processing times, higher reserves placed on your account, and could result in the eventual closure of your Fiskl Payments account. You should aim to keep your chargeback rate below 1%.

How do I avoid getting a chargeback? Are there any best practices?

The most common reasons for chargebacks include:

  • The cardholder does not recognize the charge on his or her statement
  • The cardholder was unsatisfied with the product or service
  • The cardholder did not receive the product or service
  • The cardholder’s credit card was stolen or used without their permission

With these reasons in mind, there are some best practices you can implement to reduce your chargeback rate or avoid getting one altogether. Here are some precautions you can take:

  • It is recommended that you remind your customers that the charge will show up as [“WPY*yourcompanyname”] on their statements.
  • Providing outstanding service to your customers is one of the most effective ways to reduce your chargeback rate.
    • Be sure to specify how customers can contact you with questions (email or 800 number).
    • Be upfront and transparent about your refund policy, and be sure to respond to refund requests in a timely manner.
  • We suggest keeping all tracking numbers on items that are shipped out.
  • Make sure you are setting appropriate expectations with your customers as to when they can expect full service or delivery

How do I initiate a refund?

At this time, any refunds need to be initiated from within your WePay account. To do this, you will need to go to the WePay Dashboard.

Here, you can log in with your WePay username and password.

Once you’re in the WePay dashboard, do the following:

  1. You’ll see a list of your recent transactions listed under your company name.
  2. Locate the transaction you wish to refund, and click on it.
  3. A new window will appear with some details about the transaction. At the bottom of the window, you will have the option to “issue a refund”.

What are the transaction limits with Fiskl Payments?

At this time, the transaction limit is USD or CAD 10,000 for a single transaction. Any transaction higher than that amount will need to be manually reviewed and approved by the WePay. If you are planning to process a lot of larger transactions, please reach out to (support [at] wepay [dot] com) so your account can be pre-reviewed and pre-approved.

Getting Paid: Withdrawing Funds

How do I withdraw my funds?

Withdrawing your available funds to your bank account will happen automatically! As soon as you’ve connected your bank account, WePay will verify the information and start the withdrawal process the next business day if your withdrawal frequency is set to daily. Your withdrawal frequency can be changed to weekly or monthly, in which case the process will start on upcoming Monday or 1st of the month (if a business day). For instructions on how to connect your bank account, see below.

How do I add a bank account to Fiskl Payments?

In order to withdraw your processed funds, you’ll need to connect your bank account. Setup only takes a few minutes and you only need to do it once:

If you weren’t already prompted to add your bank account during sign up, you’ll be notified by email to add a bank account to Fiskl Payments after you accept your first payment. Click the link in the email to be taken to a page where you’ll be asked to provide information as required by law to verify your identity as well as your bank account information. Click Submit to save your information.

How do I manage my Fiskl Payments account (ie. update bank account or personal information)?

After completing the setup of your Fiskl Payments account you will see a link titled WePay in the Fiskl Payments section. Clicking this link will take you to a login page where you will use your Fiskl Payments/WePay login email and password to access your account. Remember, these login credentials are separate from your Fiskl login credentials.

How long does it take for the money to arrive in my bank account?

It typically takes one to two business days for WePay to process your transaction and initiate the automatic withdrawal to your bank account. Once the withdrawal has been initiated, funds are generally deposited into your bank account within two business days. The speed at which this happens depends largely on when your bank posts the funds, as the money will have already left your WePay account. Most banks will make your funds available on the same day that they receive the transfer. On occasion, banks may take an additional 2-3 days to do so. As such, please allow a total of 2 – 5 business days for your funds to appear in your bank account.

Note: your first transaction might take longer than one to two business days to be processed and deposited to your bank account.

Fiskl works with WePay, who helps us process the payments in the back end. When a first transaction is made, WePay will make sure that everything is safe, secure and legitimate in the payment process. As you are a new user to WePay, this analysis can take a bit of time, which can delay the first ‘transaction to deposit’ time. However, subsequent transactions should process much more quickly as you build more history with WePay.

Why was my withdrawal cancelled or charged back?

If you’ve received an email or notification that a withdrawal was cancelled or created a chargeback, this could be for a couple of reasons:

  • The username on your Fiskl Payments account does not match the legal name listed on the bank account you entered.
  • The bank account and/or routing number(s) entered does not match what the bank has on file (sometimes from a typo when entered).

If the bank account had incorrect information, it may have been deleted and the funds would have been returned to your Fiskl Payments account. To be sure we are able to send the funds back out to you, please be sure to enter your updated bank information as soon as possible.

Why isn’t my balance fully available?

There are a few different reasons why your account balance isn’t fully available for withdrawal:

  • One or more payments haven’t fully processed: Pending payments are payments that are subject to minor delays from reviews. It can take up to two business days for us to review a pending payment. Payments are reviewed to protect you and your customers from any malicious activity to ensure the payments are compliant with the WePay Terms of Service.
  • There are reserves on your account: Reserves are sometimes held to protect your business against chargebacks or disputes. We set your reserves based on the transaction history in your account as well as the information you provide in your profile, your industry and how you’re using Fiskl Payments.

Why is my Fiskl Payments account showing a negative balance?

Your account balance will go negative if you have received chargebacks or refunds against your account and do not have enough funds available to cover them. To address the negative balance in your Fiskl Payments account, WePay will debit your attached bank account for the full amount of the deficit. It is important that you address the deficit in your account, otherwise the account may be reported to a third party collection service. This third party collection service may report your debt to credit bureaus.

Does Fiskl Payments have a required risk reserve minimum?

Reserves are sometimes held to protect your business against chargebacks or disputes. We do not have a set reserve amount for our customers, instead any possible reserves will be set automatically based on the transaction history in your account as well as the information you provide in your profile, your industry and how you’re using Fiskl Payments.

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