Getting Started with Cin7 Core Payments

Getting Started with Cin7 Core Payments

Cin7 Core Payments is Cin7 Core's own payments platform, designed to let your customers pay for their transactions with ease. Cin7 Core Payments complies with PCI standards, uses TLS 1.2 encryption for both transaction and checkout, and works with all invoices generated in Cin7 Core. The platform is especially handy if you are using Cin7 Core B2B Portal.

IMPORTANT! Cin7 Core Payments is currently undergoing beta testing. If your organisation has an active Cin7 Core subscription, you can join the beta testing program for the service. Aside from integrating with Cin7 Core, support for Cin7 Core B2B Portal is included in the Cin7 Core Payments Beta, with Cin7 Core POS support coming in a future version.

Once signed up for Cin7 Core Payments, you can view historical transactions, payouts, refunds and disputes via the Dashboard section on the Cin7 Core Payments Integration page. To allow your customers to pay for their transactions, you can define a payment document containing a link to Cin7 Core Payments.

If you have already signed up for the service and set up your Cin7 Core Payments account, you can start using Cin7 Core Payments (see Using the Cin7 Core Payments Dashboard for more information).

Note: Aside from Cin7 Core Payments, Cin7 Core also supports Stripe and PayPal as payment processors. See PayPal Integration and Stripe Integration for more information.

Prerequisites

  • Business registration in Australia (required)

  • Active Cin7 Core subscription (required)

Availability

As of January 31, 2020, Cin7 Core Payments only supports merchant accounts in Australia.

Cin7 Core will inform customers about the rollout of the platform in their own locations when the time comes.

Signing Up for Cin7 Core Payments

The Cin7 Core Payment Gateway integration page will only be available to Cin7 Core accounts with active subscriptions. You can sign up for Cin7 Core Payments if you have an active Cin7 Core subscription.

There are three (3) steps involved in signing up for Cin7 Core Payments:

  1. Generate and sign the Cin7 Core Payments Service Agreement

  2. Complete the Cin7 Core merchant account application by entering your business and related information

  3. Cin7 Core verifies your information and approves your application

After you have signed the Cin7 Core Payments Service Agreement and entered your business and account details, Cin7 Core verifies your information and approves your application for Cin7 Core Payments.

Generate and Sign the Cin7 Core Payments Service Agreement

You will need to generate and sign the Cin7 Core Payments Service Agreement for Cin7 Core to approve your application.

To generate the Cin7 Core Payments Service Agreement:

  1. Click Integrations > Cin7 Core Payments.

  2. On the Cin7 Core Payments Setup page, click the Generate Agreement button to generate the Cin7 Core Payments Service Agreement, which you will receive via the email address you provided when you set up your Cin7 Core account.

    If you want to test the service, click the Generate Agreement for Sandbox button, then the Sign Agreement for Sandbox. Skip to Step 4.

         

  1. Open the email when it arrives in your inbox and click Review Documents to open the Cin7 Core Payments Service Agreement on the DocuSign web app. Review and sign the document to confirm your agreement to the Cin7 Core Payments Terms and Conditions.

Note: Although you may choose to sign the Cin7 Core Payments Service Agreement at a later time, you will need to sign it by the time you complete the last step in this setup process in order for Cin7 Core to verify your account.

  1. Back on the Cin7 Core Payments Setup page, click Next to continue with the Cin7 Core Payments setup process.

Complete the Application

After signing the Cin7 Core Payments Service Agreement, you will need to enter the required information for Cin7 Core to approve your application. You will be asked to perform the following:

  • Enter your Business and Accounting Information

  • Enter your Business Representatives' Details

  • Enter your Bank Account Details

  • Upload Supporting Documents

 

The above details are entered via their own separate pages on the Cin7 Core Payments Setup page. The required information may vary depending on your country of operation.

Note: If you fail to complete the application for any reason, you can always go back to the page you filled up last by navigating to Integrations > Cin7 Core Payments.

Enter your Business and Accounting Information

This is divided into two sections:

  • Business Details

  • Accounting Configuration.

 

To enter your business and related information:

  1. On the Cin7 Core Payments Setup page, after generating the Cin7 Core Payments Service Agreement, click Next.

  2. On the Business Details section, enter your business name and URL, tax ID, and full address. You will also need to select your business type and merchant category from the lists.

         

  3. On the Accounting Configuration section at the bottom, select or enter the following:

    • Accrual Account
      This is the payment account that will be added to the invoice lines when generating payments for invoices. For example, when the customer pays for the invoice, Cin7 Core will automatically add the payment by stamping the name of this selected account on the invoice. This account will accumulate all the payments collected under the merchant account. Accounts with Type = Current Assets under the Chart of Accounts section in Cin7 Core are available for selection from the list.

    • Bank Account
      This is the actual Bank Account that, if enabled, will be used for merchant payouts. For more information, see Payouts in Cin7 Core Payments.

    • Cin7 Core Payments Fee Account
      This is the expense account used to store the fees that Cin7 Core collects from your account. When payment is received for an invoice, Cin7 Core adds payment lines to the invoice with the amount of the payments. Cin7 Core also adds manual journals to the invoice and authorizes manual journals with the amount of the fee that Cin7 Core subtracted (Cin7 Core Payments fees) from the total payment amount. The fee will then be credited to the Cin7 Core Payments fee account and debited from the Accrual Account.

    • Balance to Hold
      This is the amount that Cin7 Core will withhold from the payouts meant for your Bank account. Cin7 Core will use this amount for refunds. For more information, see Refunds in Cin7 Core Payments.

  4. Click Save, then Next to go to the Business Representative Details page, where you will be required to enter detailed information about your authorized business representative(s) (see Enter your Business Representatives' Details).

Enter Information about your Authorized Business Representatives

Cin7 Core Payments requires details about your authorized business representatives. The required information may vary depending on your country of operation as well as your business type (see Enter your Business and Accounting Information).

Generally, there are four (4) types of authorized business representatives, namely:

  • Account Opener (required)

  • Director (required)

  • Owner (required)

  • Executive (optional).

IMPORTANT! Since you are signing up for Cin7 Core Payments for the first time, the Account Opener box is checked by default and cannot be edited. As the Account Opener, you can also check the Owner/Director/Executive boxes, if applicable. If you are only going to add yourself in this section, you are required to check the Owner and Director roles as well. You can also add different persons for the mandatory Owner and Director roles, as well as the optional Executive role.

To enter detailed information about your business representatives:

  1. After entering your business and accounting information, click the Next button at the bottom of the Business Details page.

  2. On the Business Representative Details page, click the + button at the bottom.

         

  3. Check the box or boxes corresponding to the position(s) of the business representative. For example, if you are the Account Opener, check the Account Opener box. If you hold any of the other required positions, e.g. Director and Executive, check all the boxes corresponding to these positions.

  4. Enter the job title, first and last name, date of birth, email address and full address, and telephone number of the business representative (required fields are marked with an asterisk *).

  5. To add more representatives, repeat steps 2-4. Otherwise, skip to Step 6.

  6. Click Save, then Next to go to the Connect to Bank Account page, where you will be asked to enter information about your bank accounts (for more details, see Enter your Bank Account Information).

Enter your Bank Account Information

Once you have entered the required information about your business representatives (see Enter your Business Representatives' Details above), you can enter information about the bank account that Cin7 Core will use to send payouts for your customers' transactions.

To enter information about your bank account(s):

  1. After entering information about your business representatives, click the Next button on the Business Representative Details page.

  2. On the Connect to Bank Account page, toggle the Use for Payouts button to Yes if you want your future payouts from Cin7 Core Payments to be sent to the bank account.

         

  3. Enter your bank account number and BSB number. To add more bank accounts, go to Step 4. Otherwise, skip to Step 5.

  4. Click the New Bank Account button at the bottom, then repeat Steps 2-3. You may add as many accounts as you want.

  5. Click Save.

  6. After adding your bank account(s), click Next to go to the Additional Information page, where you can upload supporting documents related to your business representatives (see Upload Supporting Documents).

Upload Supporting Documents

Cin7 Core requires submission of at least two (2) valid identification documents for your nominated business representative(s). Although acceptable ID documents may vary depending on your country of operation, in general, these documents must meet the following guidelines:

  • Government-issued IDs, e.g. passports and driver's licenses, are acceptable in most locations.

  • Both the front and back of IDs must be uploaded.

  • A photo card is required if your business is located in New South Wales.

  • Documents must be in colour.

  • Size should be smaller than 8,000px by 8,0000px.

  • Images should be in JPEG or PNG.

  • File Size should be less than 10MB.

  • The name on the ID document should match the name provided by the merchant for the Account.

 

To upload supporting documents:

  1. After entering and saving your bank account information (see Enter your Bank Account Information above), click the Next button at the bottom of the Connect to Bank Account page.

  2. On the Additional Information page, you will see the names of your business representatives and fields where you can upload the required supporting documents. Browse your computer for the image files to upload, then click Save to upload the files. You may upload the files in bulk, or upload each image one by one.

  3. If there is an issue with a supporting document you uploaded, an error is displayed below the corresponding document. Resolve the issue, then upload the document again.

  4. Upon successful uploading, you will see your account status updated from Non-Verified Account to Account Verification Pending. You may have to wait a few days until the documents are verified (see Account Verification).

 

Note: Your account will remain as Non-Verified Account until you have uploaded the required supporting documents for your business representatives.

Account Verification

After you submit your application, Cin7 Core will start the account verification process, which may take a few days. Cin7 Core may also ask for additional supporting documents, e.g. proof of address, that will help in the verification process at this time.

Once Cin7 Core finishes the account verification process, you will get a notification at the email address you provided during account registration, informing you of the status of your application.

Upon approval of your application, your account status gets updated from Account Verification Pending to Verified Account,and you can already start using Cin7 Core Payments. You will also see a Disable Cin7 Core Payments button appear on your Cin7 Core Payments Dashboard.

For more information about using Cin7 Core Payments, see Using the Cin7 Core Payments Dashboard.

Note: Account verification is performed only when you open your account with Cin7 Core Payments. In case you add or change a business representative later, you will not be asked to submit supporting documents for your new representatives. However, in case of regulatory changes, you may be asked to undergo account verification again.

Disabling/Enabling Cin7 Core Payments Integration

In case you want to disable or disconnect the integration with Cin7 Core Payments, click the Disable Cin7 Core Payments button on your Cin7 Core Payments Dashboard.

To re-enable the integration with Cin7 Core Payments, click the Enable Cin7 Core Payments button.

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