What is Terminology?
- Terminology is the set of words used within a particular technical application. You can find below terminology of PayHere & what they mean.
Who is a PayHere Merchant?
- PayHere Merchant is any business entity in Sri Lanka who uses PayHere as a method to accept payments online for their business.
Who is a PayHere Customer?
- PayHere Customer is any person in the world who makes online payments to PayHere Merchants via PayHere.
What is a Payment?
- Payment is some amount of money your business receive from a third party. You may receive it for a purchase of a good, as a fee for a service or even as a donation.
What is a Payout?
- Payout is some amount of money that being paid out or transferred from your PayHere balance to your bank account.
What is PayHere Account?
- PayHere Account is a virtual financial account that holds the payments you receive until they’re being paid out to your bank account as a Payout.
What is PayHere Balance?
- PayHere Balance is the financial account balance of your PayHere Account at a given time.
What is a Fee?
- Fee is some amount of money that is charged by PayHere for the service we provide.
What is Payout Cycle?
- Payout Cycle is the scheduled period that you need to withdraw your eligible payments to your bank account as Payouts.
What is Release Level?
- Release Level is the level up to which your eligible payments will be hold in your PayHere Account without releasing as a Payout.
What are Eligible Payments?
- Eligible payments are the payments that have passed the holding time from the payment received date & eligible to be paid out.
What is Holding time?
- Holding time is the period that a payment being hold by PayHere before being eligible for Payout. Merchant has the ability to refund the payment during this period.
What is a Refund?
- Refund is a Payment that you reverse back to the Payee.
What is a Chargeback?
- Chargeback is a Payment that is automatically reversed back to the Payee upon the demand by the credit-card or mobile-wallet provider to make good the loss on a fraudulent or disputed transaction.
What is a Dispute?
- Dispute is when a cardholder or a mobile wallet holder queries a transaction which appears on their card or mobile wallet account statement.