Moving to RaccoonPay 2.0 - Frequently Asked Questions

Modified on Tue, 23 Apr 2024 at 02:05 PM

With the RaccoonPay old version being discontinued, it is required for you to onboard to the new and enhanced 2.0 version. Here you can find what to expect during this transitional phase.

Why is a new onboarding process needed?

To be able to provide the new and enhanced features, we have a new payment service provider, which requires your company documentations to be validated.

What is required to onboard?

Documentation about your company, decision-makers and bank account. Please consult the following article for a step-by-step guide: How To Activate RaccoonPay?

How long does this process take?

It can take less than 24 hours to get the validation if all necessary documentation is correctly provided.

What does this change mean for the cards already stored in the system?

Existing cards are tokenized/encrypted by the previous payment service provider, and this will not change. You can continue to charge them normally, even with the new provider active for the new version. Your merchant account will stay active with the old provider for these transactions, ensuring you receive payouts for these cards as usual.

These cards can only be charged, they cannot be preauthorized.

Starting from the activation date of RaccoonPay 2.0, all new cards will be encrypted by the new provider.

This means that there will be a brief period of time when you will receive payouts from two different providers for all your transactions.

How to refund cards encrypted by the old payment provider?

Refunds directly from RoomRaccoon to these cards are not possible from the RaccoonPay 2.0 activation date. To process refunds, please submit a ticket requesting assistance from our payments team.

What is the payout schedule with RaccoonPay 2.0?

Weekly, every Wednesday for fully processed transactions from the previous week (Monday-Sunday). Payout details report can be found in the same Payouts tab within the Payments module.

What are the available fee modalities?

You can choose between Blended fees and Interchange++ fees, based on what is the best model for your business type. To know more about the modalities, click here.

How to obtain the transactions fees invoice?

RoomRaccoon issues the RaccoonPay fees invoice monthly, on the 20th, along with the subscription invoice. This invoice includes processed transactions from the previous month (not payouts). For instance, the invoice issued on April 20th corresponds to transactions conducted between March 1st and March 31st.

The invoices are available in the Subscription tab within the settings module.

What is different for chargebacks?

You have direct access to all your chargebacks through the Disputes & Chargebacks tab within the Payments module. This allows you to monitor their status closely and take necessary actions. It is important to note that you are responsible for disputing chargebacks, as RoomRaccoon is not an intermediary in this process.

What are the available payment methods?

  • Visa
  • Mastercard
  • Maestro
  • American Express (AMEX)
  • iDEAL
  • Bancontact

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