Invoice Payments

FAQ for Payees/Sellers

Do I need my own merchant facility to accept credit card payments?
Yes you do.  Parakeet can accept merchant facilities (“BYO Merchant”) listed with any of the banks or payment providers listed here.   If you need to ...
Tue, 16 Mar, 2021 at 5:52 PM
Why should I sign up to receive payment via Parakeet?
Here are some of the benefits of using Parakeet to collect invoice payments: Minimal change to your operation (e.g.continue to use your invoicing App). A...
Tue, 16 Mar, 2021 at 5:48 PM
What will my customers see on their statement?
If you provided Parakeet with your own Merchant ID (BYO merchant ID) then your customer statement will display the identifier (i.e. your company name or tra...
Mon, 11 Oct, 2021 at 10:24 AM
When will the money be received into my account?
Payment method Time to receive funds Credit card (under BYO merchant ID) 1-2 business days Credit card (under Parakeet network merchant) 2-3 business d...
Mon, 11 Oct, 2021 at 10:25 AM
What is an internet merchant facility / merchant account?
Internet Merchant Facilities (IMF's) are required to accept payments in an e-commerce environment.  With Parakeet, we enable you to use your existin...
Mon, 11 Oct, 2021 at 10:26 AM
I have my own merchant ID I want to use, which acquiring banks do you accept?
If you like to use your own merchant ID, we can facilitate the below acquiring banks.  The merchant IDs can be found on your merchant tax invoice or mer...
Mon, 11 Oct, 2021 at 10:26 AM
Which account does the money go into?
For BYO merchant ID - It will go into the account you set up with your acquiring bank. For direct debit or Parakeet Network Merchant - it will be credit...
Mon, 11 Oct, 2021 at 10:27 AM