Payment & Payout

Navigation:
- Path: Settings > Payments > Billing.
Sections:
- Payment Methods: Displays and manages the user’s debit/credit cards for making payments.
- Payout Methods: Lists options for withdrawing the user’s cash balance.

Purpose:
- Allows users to add and manage payment methods for purchasing items and services within the app.
Data Elements:
- List of Payment Cards: Displays added cards, if any exist.
- New Payment Method: Users can add a new card for payments.
- Default Payment Method: Shows which card is currently set as default and enables users to select a different default card.
Actions:
- Add Payment Method:
  - Form Fields (mandatory):
    - Name on Card
    - Card Number
    - Expiration Date
    - CVV
  - Validation: All fields are required. Form validation should verify card details meet standard banking formats.
- Edit Payment Method:
  - Users can update their default card selection.
Applicable Payment Cases:
- Supported Transactions: Payment methods can be used for:
  - Fixed Price Sale
  - Traditional Auction Sale
  - Lowest Unique Bid (LUB) Cash Sale
  - Tipping
  - Fan Subscriptions
  - Jobs
- Default Method: The primary payment card is automatically selected for transactions unless changed by the user.

Purpose:
- Allows users to set up and manage withdrawal methods to transfer their cash balance from Fanatico.
Data Elements:
- List of Payout Methods: Displays the payout methods that the user has added.
- New Withdraw Method: Option to add a new method for payouts.
- Default Withdraw Method: Users can set a specific method as their primary payout method.
- Limits: Users can add up to three PayPal accounts and three Bank Accounts.
Types of Payout Methods:
- Bank Account:
  - Form variations based on country:
    - IBAN Countries: Requires standard IBAN details.
    - SWIFT (Non-IBAN) Countries: Requires SWIFT code and corresponding details.
    - Brazil Custom Bank Account: Requires specific Brazilian banking information.
    - USA Custom Bank Account: Requires U.S.-specific banking details like routing and account numbers.
- PayPal: Limited to three accounts per user.
KYC Requirement:
- Trigger: KYC is mandatory if withdrawal is $1000 or more.
- Options:
  - Users select between Individual Data or Business Data for KYC verification.
  - KYC Summary: Upon successful KYC completion, users are shown a summary tailored to their chosen KYC type.
  - Redirection: After KYC completion, users are taken to the “Add Payout Method” page.

Earnings:
- Users can earn cash through:
  - Fan Subscriptions
  - Sales (Fixed Price, Auction, LUB)
  - Tipping
  - Jobs
Payout Eligibility:
- Conditions:
  - A payout method must be defined.
  - Cash balance must meet the required payout threshold.
- Default Payout Thresholds:
  - PIX: Minimum R$50, Maximum R$5000
  - European Bank Account: Minimum $50, Maximum $10000
  - International Bank Account: Minimum $100, Maximum $10000
  - PayPal: Minimum $10, Maximum $1000
  - Zelle, Venmo, ACH: Minimum $10, Maximum $1000

Instant Payout:
- Fan Subscriptions are credited instantly to the user’s balance.
Delayed Payout Schedule:
- Physical Delivery:
  - With Shipping Address: The payout is scheduled 7 days post-sale if no tracking number is provided.
  - With Tracking Number:
    - Standard: Payout in 14 days after tracking number is entered.
    - Experienced Sellers (10+ successful orders): Payout in 7 days after tracking number.
    - Buyer Confirmation: Immediate payout upon buyer confirmation.
  - No Address Provided: Instant payout after 7 days if no address is available.
- Online Delivery: 48-hour delay after content is uploaded.
- In-Person Delivery: 48-hour delay following event completion.

Fanatico Knowledge Base