Payment Processes

This section of the Online Help Guide summarises the process for payment of funds to your business and settlement of all fees involved with the use of this System.

Online Merchant Service Facility (OMSF)

You must have an OMSF in place with your chosen financial institution in order to enable the Payment Gateway. This account is separate to a normal Eftpos related account and allows your business to receive payments via the internet and have the funds placed into your bank account. You are free to apply for an OMSF with the financial institution of your choice, or we can recommend one and assist you with your application. As part of the application process, you must advise your chosen Merchant bank which bank account you wish online funds deposited into. This account may be at the same bank as the Merchant bank, or a different bank. If you require assistance please contact your local frontdesk representative or contact the Helpdesk.

Receipt of Funds – Full Payment Distributors

You will receive payments direct from customers when they book your products online via 'Full Payment' Distributors such as your own website and many others. These monies will be processed by your Online Merchant Service Facility.

Receipt of these monies will occur on an ongoing basis, in real time as bookings are made by customers. The timing of settlement into your bank account may vary, depending on your Merchant Facility provider and the financial institution of your nominated bank account and might be up to 10 days.

Payment of Distribution Fees owed by you to any Distributors will be processed automatically by the System.

Receipt of Funds – On Account

An On Account Distributor is a website that takes payment from the customer and is responsible for the booking. If your products are booked through an On Account Distributor,  the invoicing and receipt of funds by your business must be managed externally to the System. V3 will provide you with a monthly Settlement Report detailing all on-account transactions, then you must provide an invoice for the value of each booking to the relevant Distributor according to their Terms and Conditions. The Distributor will then reimburse you less any commissions owing (which will usually be accounted for with a Purchase Bill). For more information, see Online On-Account Bookings.

Payment of Fees

Any fees payable by you will be direct debited from your nominated Settlement Account after a  monthly invoice has been emailed to you detailing all transactions and associated fees.

Settlement of fees will occur automatically by direct debit at fixed times throughout the month, based on the timetables summarised in the ‘Payment and Settlement Flow’ section detailed below.

Summary of Fees

Some or all of the following fees may be payable:

• Distribution Fee

• Combined Booking Fee

• Transaction Fee

• Monthly Fee

For a definition of these fees, and a description of when these fees may be payable by your business, please refer to the Application form, End User License and Product Provider Agreement , to which you will have agreed in order to proceed with installation of the System.

Payment and Settlement Flow

Online credit card bookings direct to Product Provider

Includes bookings made:

• by a customer via the Booking Pages linked to your own website

• by a customer via a 'Full Payment' (Direct to Provider) Distributor’s website

• by a Visitor Information Centre using the V3Booking Centre on behalf of a customer, where the customer’s credit card is used for payment.

Online bookings via Distributor on Account

Bookings made:

• by a Visitor Information Centre on behalf of a customer, where the customer pays the Information Centre

• by a customer via a Distributor’s website, where the funds are received and managed by the Distributor