The Food Corridor offers Pre-Authorized Debit (PAD) as an available payment method for Canadian users. PAD payments debit directly from a user's bank account.
For food businesses paying their kitchen via PAD, the payments take up to 5-6 business days to be paid out to the kitchen.
Charges paid by PAD take 2-3 days for payment completion.
During this time, the charge will read as "paid" on the client's statement in TFC.
If it subsequently fails after 2-3 days, the charge will move to "due", and you and the client will be notified. As with credit card payments, here is what happens and what you can do if a charge fails.
Failures can happen for a number of reasons such as: insufficient funds, or the customer disabled debits from their bank account.
If the payment is successful, your client will see the payment reflected on their bank statement 1-3 days after creating the charge. (Your Client will know the payment succeeded before the bank notifies Stripe.)
Once the payment is successful, you will see it in your Stripe Connect Account, ready to be paid out to you.
The standard time for PAD payments being transferred is:
Billing date - PAD payment is created
2-3 business days - for your client's bank to give the approval/decline.
Up to 3 business days for payout.
For PAD payments, refunds can only be issued on payments made within the last 180 days. After 180 days has passed, if needed, you can refund a more recent bill through The Food Corridor, or refund your client outside of the platform.