Payrix: End Month Billing
We are excited to announce that as of April 1, 2023, Payrix is moving to an End Month Billing (EMB) model.
While presently, Payrix has been deducting the fees off the top of each transaction, with EMB it will deposit the entire amount and only deduct it's fees at the start of the month for the entire past month.
We've been petitioning Payrix for a very long time for this change... and are thrilled with this news! This will make bookkeeping simple: If you charged for example $1,000 over the course of the day, you'll see the full $1,000 in your bank account.
What you need to do:
- If you're currently using Payrix as your processor, you don't have to do anything. Starting April 1, 2023, this change will go into effect on your account.
- If you would like to sign up for Payrix Processing (to add an additional account, or if you've never used credit cards in CMS at all), you can do so within CMS by clicking Program Setup > Options > Credit Cards and clicking Add.
With Payrix Processing, there are NO monthly fees, NO gateway fees, NO PCI compliance or non- compliance fees, NO regulatory fees and NO annual fees. There really is no catch.
Payrix has adjusted it's processing rates by .02%. In simple English, on $100 it's an increase of 2 cents.
Integrating Credit Card Processing in CMS gives you these additional features.
More details and full pricing can be found here
- Instantly charge cards directly in CMS.
- Create multiple no-fee accounts to direct different projects charges to be funded to their own bank account.
- Schedule cards to be charged on a recurring basis (monthly pledges or tuition).
- Same with eCheck (ACH). One time or recurring.
- Setup forms on your website where data submitted is automatically entered into CMS.