Payment Settings
Payment Settings determine how merchants receive payments. Joom has Payment Channels and Payment Methods to settle with merchants.
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Whatever payment method you choose, please ensure that the account belongs to the same legal entity that stated in your KYC profile, or the payment will not be possible. |
Payment Channels
Payment Channel is a solution for transferring payments from customers to merchants anywhere in the world. Joom constantly expands to new countries and adds new payment methods. Therefore, Joom may need different channels to settle payments with merchants via preferred payment methods.
All merchants have at least one payment channel by default, that is Primary payment channel. However, new channels could be added by the platform in the future.
The merchant must select a payment method for each channel to enable the platform to successfully settle with the merchant. If the merchant has only one channel, it is enough to set up only this channel.
Payment Channel statuses
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Setup required |
Payment Channel is not set up. Please select payment method for the channel. |
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Setup |
Payment Method is successfully selected. |
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Error |
An error could occur due to the following reasons:
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Pending confirmation |
Payment method is selected but not confirmed. Please confirm the changes. |
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Deactivated |
Payment Channel has been deactivated. |
Payment Methods
Payment method is the exact method linked by merchant to receive payments from Joom. There are two payment methods available on Joom: Payoneer and Bank. We will add more payment options in the future.
The merchant can create several payment methods; however, all payments will be transferred to the payment method that was chosen for payment channel at the payout date. Merchants can change the payment method selected for payment channel if needed.
How to add a payment method?
- Go to Merchant Panel and click your name on the right upper corner.
- Choose Payment Settings > Payment Method > Add New Method.
- Choose type and create a custom name for a method.
- Click Save draft. If the button is not active, you need to fill out the KYC profile first.
- Connect the method.
How to choose a payment method?
You need to choose payment method for all payment channels to get payments without any issues.
- Go to Merchant Panel and click your name on the right upper corner.
- Choose Payment Settings > Payment Channels.
- Choose the payment method for each channel and confirm changes.
- If you have activated Multi-User Accounts, and you’re an Admin of your account, you don’t need to confirm changes by email. The channel status will be changed into Pending review status automatically.
- If you haven’t activated Multi-User Accounts yet, then you will receive the confirmation email with the link to your login email address. You need to follow the link and accept the changes.
Payment method statuses
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Invalid |
Payment Method can be invalid due to the following reasons:
If an error has occurred, it cannot be fixed. You need to create a new payment method with fixed error. |
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Valid |
Payment method is valid. |
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Disabled |
Payment method is disabled. |
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On review |
Payment method settings are under review. Please wait. |
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