When can I start processing payments?
Once you have completed your Merchant Account Setup form, the application is sent to WePay to begin the underwriting process. The merchant account setup takes as little as 1 business day to set up.
Once your merchant account has been approved for processing, we will issue a test payment and refund to confirm. Once confirmed, you will receive an email notification from email@example.com. You will be able to begin processing payments at any time.
What are my processing rates?
Upon joining Regpack, your sales representative will quote and confirm your credit card and electronic check processing rates. To receive confirmation of these rates, please email firstname.lastname@example.org. Your rates are also listed in the Terms and Conditions in your Regpack account.
When will I receive the deposits from my sales?
When completing your Merchant Account Setup form, you are given the option to receive your funds on a Daily, Weekly or Monthly payout schedule. The option you select will be the frequency in which you will receive the deposits for your sales.
- Daily – It takes WePay 3 business days to fully process a daily payout schedule. You will receive your funds three business days after the billing date. For example, funds accepted on Friday, will be deposited into your account on the following Wednesday.
- Weekly – The Weekly payout schedule is based on calendar days (Monday – Sunday). You will receive your deposits on Tuesday of each week, for the previous Monday – Sunday weekly billing cycle.
- Monthly – With Monthly payout, you will receive your deposits on the 15th of each month, for the previous months billing cycle. For example, funds accepted during the month of January, will not be deposited into your account until February 15th.
How can I pull the payout reports to reconcile my sales deposits?
To download payment reports in Wepay, please login to Wepay here: https://www.wepay.com/login
If you don’t have access to your WePay account, you can request this from the payments team by emailing email@example.com.
Once in the Wepay console, go to Reporting > Payments > Download CSV for the deposit you are wanting to view.
Column R under payment_description will show you the field which you set as your soft descriptor.