Terminology

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.