Balances and Settlements

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Settlement

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Triggering Settlements

The balance of your Ivy collection account is the net of payins and payouts in the relevant local currency, e.g. EUR, GBP, SEK, DKK. Settlements are triggered periodically (monthly, weekly, daily), at which point the available balance of each fiat account is paid out to your beneficiary wallet or bank account. Settlement can also be triggered manually through the Ivy Merchant Dashboard.

By default the entire available balance will be settled. However, you can define a minimum balance for your account which will be retained on the account to maintain sufficient balance for refunds or customer payouts.

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Fiat Settlements

Settlements in fiat are made to the bank account you specified during onboarding. Settlements usually arrive instantly, but can take up to 2 business days.

By default settlement must be to a locally connected bank account in the same currency as the Ivy account. Fiat FX payouts are possible, however, stablecoin settlements are recommended for cases where you don’t hold a local fiat account to receive settlements.

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Stablecoin Settlements

Ivy provides you with the option to settle your available fiat balance on-chain in stablecoins. Stablecoin settlement also enables higher frequency or real-time settlement.

The conversion of fiat to stablecoins happens at the moment the settlement is triggered at market rates. Ivy is connected with Stablecoin issuers directly to provide you with the best possible rate at any given time.

We currently support the following currencies

• USDC
• EURC

on the following chains

• Ethereum
• Solana
• Polygon

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Reporting

You can use the Payout Report API to get a list of all settlements made to your beneficiary account in a certain period. Settlements are paid out regularly, and the payout report will show you all transactions included in a given settlement payout.

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Create a Payout Report

To create a payout report, request the Create Payout Report endpoint. You must provide the intervalStart and intervalEnd fields in the request body as UNIX timestamps.

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Example Request Payload

{ 
  "intervalStart": 1638886400, 
  "intervalEnd": 1638972800 
}

In the response, you receive the id and the initial status of the payout report. You can use this id to retrieve the status later and download the payout report.

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Example Response Payload

{
    "id": "5f9b5f9b-5f9b-5f9b-5f9b-5f9b5f9b5f9b",
    "status": "pending"
}

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Poll for the report status

After you have created the payout report, the report is gathered asynchronously and usually takes around 30 seconds to be ready. You can poll the Retrieve Payout Report endpoint to get the current status of the payout report. You must provide the reportId of the payout report in the request body.

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Example Request Payload

{ 
	"reportId": "5f9b5f9b-5f9b-5f9b-5f9b-5f9b5f9b5f9b" 
}

As a response, you will receive the payout report’s current status.

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Example Response Payload

{
    "status": "pending"
}

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Download the report

The status will switch to ’ succeeded ’ as soon as the payout report is ready. Use the Download Payout Report endpoint to download the payout report. You need to provide the reportId of the payout report in the request path and specify the format of the Download. You can receive the report in JSON format or as a CSV file.

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Example Request Payload

{ 
  "reportId": "5f9b5f9b-5f9b-5f9b-5f9b-5f9b5f9b5f9b", 
 	"format": "json"
}

You will receive the report in the JSON response if you specify JSON as the format. The report will contain a list of all payouts made to your bank account. Each payout will have the id of the payout, the availableAt date, the amount, and a list of all orders included in the payout.

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Example Response Payload

{
    "payouts": [
        {
            "id": "po_123456789",
            "availableAt": 1638972800,
            "amount": 1000.00,
            "transactions": [
                {
                    "orderId": "Shop-99999",
                    "gross": 1000.00,
                    "net": 900.00,
                    "fee": 100.00,
                    "currency": "EUR",
                    "reportingCategory": "charge",
                    "description": ""
                }
            ]
        }
    ]
}

If the report is not ready, you will receive a status400 response.