How do the invoices and payments work?

In this article, we will give you an overview of Pay's billing functions. We explain how billing works and which payment frequencies, payment methods and payment terms are available.

Accounts 

Pay's credit card statements summarize all card transactions made by the card users of an organization with one of its cards. 

All cards issued to a customer organization run under the same credit limit and are billed to the organization's own card account. A single account statement simplifies the billing process. There is no need to reconcile the individual statements of sometimes hundreds of cards each with the outstanding balance under the organization's credit limit. Instead, Pay customers receive a single statement showing all of the organization's card transactions.

At the same time, Pay's billing setup offers maximum flexibility. In addition to the static PDF statement files, Pay also offers extensive CSV files that contain many useful data points. With these CSV files, it is possible to analyze expenses at different levels, for example per card user, card or team/cost center.

Settlement periods vs. frequency of settlement payments

Pay creates the statements in a monthly cycle. However, the payment frequency for settling outstanding billing amounts is independent of the monthly billing period. This means that Pay enables the repayment of outstanding settlement amounts at different intervals. We currently offer monthly (FOUR version) and weekly (ONE version) settlement payments. 

It is also possible to prefund your Pay account (version GO), i.e. the organization deposits a certain amount into the card account before payments are made with the Pay credit cards. The prefunding option is a practical function to expand the payment capacity of your credit line.

Payment methods for invoices (SEPA Direct Debit Scheme)

Outstanding invoice amounts are usually paid by SEPA direct debit.  

For most customers, only a standard SEPA CORE mandate is required, which can be issued within the app. In special cases, we may request a SEPA B2B mandate, which offers more security for both parties. 

As required for direct debits, you will receive an e-mail notification of the debit amounts two bank working days before they are debited from your billing account. This e-mail will also contain a CSV file listing the transactions to which this settlement payment relates.