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IdoPay service provider change to IdoPayments
For IdoSell customers using IdoPay as announced, as of 01.03.2023 the service provider has changed to IdoPayments.
What is IdoPayments?
IdoPayments sp. z o.o. is a subsidiary of IAI S.A., which owns 100% of IdoPayments. IdoPayments is dedicated exclusively to providing payment services, which are implemented under the name IdoPay.
IdoPayments sp. z o.o. is a Domestic Payment Institution and is under the supervision of the Polish Financial Supervision Authority.
Why are we changing the IdoPay operator from IAI to IdoPayments?
For the development of IdoPay, we have created a dedicated IdoPayments company. The status of a Domestic Payment Institution broadens our horizons, and it is also a huge development opportunity for our merchants.
Using our knowledge and experience, we will create the best possible solutions for merchants to enable their customers to make payments in the most convenient forms for them, including international markets.
Who is affected by the operator change from IAI to IdoPayments?
The change of operator applies to customers of the IdoPay payment system within the IdoSell platform for all functionalities of the service: PayByLink, BLIK, buy now pay later from PayPo, card payments.
What will change for IdoPay users and when?
IdoPayments sp. z o.o. is a party to the agreement on the operation of the IdoPay service. Invoices for payment services and transfers of funds for the execution of transactions is carried out by the IdoPayments company. IAI S.A. operates IdoSell online stores, and IdoPayments sp. z o.o. operates the IdoPay payment service for its customers.
The terms and conditions of the IdoPay service remain unchanged. Each customer of the IdoSell service will receive a contract confirmation from IdoSell in March containing information that the IdoPay service is performed for them by a External Payment Service Provider, in accordance with the terms and conditions. In addition, everyone will also receive a contract confirmation for the IdoPay service provided by IdoPayments. All documents will be available in the BOK customer panel.
What will change for those who have been using IAI Payments so far is that for IdoPay payments, the commission will now be charged when the payment appears on the Balance of Payments from IdoPay. As a result, the payment invoice issued by IdoPayments at the end of each month will already be paid and will not require further billing. In accordance with payment services requirements, payment disbursements can only be paid to verified merchants' own accounts, which means that you will not be able to transfer funds directly from the Deposit Balance for IdoPay to the IAI Billing Balance.
Settlements from completed payments are further located in the BOK panel. For those using IdoSell Broker at the same time, there has been a clear separation of the Balance of Payments into the Balance of Payments on delivery and the Balance of Payments from IdoPay. Withdrawals of balances will be made separately, but to the previously set and verified accounts.
In the BOK panel, we have separated the configuration of bank accounts for withdrawals for delivery and for withdrawals from IdoPay. The current accounts have been assigned to both types of withdrawals. Entering new bank account numbers is done separately for both types of withdrawals from now on.
We have not separated the payout schedule settings - they are one setting for both payouts. What has not changed is that manual withdrawals can be made from any of the balances at a time of your choosing.
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