WELCOME TO ROAM PAYMENTS

It’s great to have you onboard. This resource is aimed at providing you with a wider understanding of our business processes as you get started as well as giving some information around how you can manage the switch from your current payment solution.

NOTIFICATION OF BANK DETAILS CHANGE

In order to help with a smooth transition, we suggest emailing all clients and agents that will be paying through Roam Payments to make them aware of the change before their first payments are due. It can take some time for companies to update bank details for saved beneficiaries, and it is recommended that notification of these changes is also confirmed over the phone, so they can be sure this is a legitimate update to your business processes. We’ll share our bank details with you when you are ready to do this.

TEXT TO ADD TO INVOICES AND / OR Ts & Cs

Clear messaging and transparency are important factors in creating trust during the payment process. We suggest that a version of the text below is added to your invoices, payment requests and / or terms & conditions.

We have authorised Roam Payments to process your payment to us when purchasing our travel products. You will be making a payment on their website and they will be the Merchant of Record for all transactions. A payment to Roam Payments using the payment link provided constitutes settlement of our invoice to you.

MERCHANT OF RECORD

Roam Payments will be the Merchant of Record for any payment that is processed through our platform. This means that we are authorised to conclude the sale of your travel products on your behalf and will be the responsible party with respect to any processing support, refunds or disputes on a payment. As per our agreement with you, all refunds given to the client will only be done on your authorisation. Any chargebacks will be for your account.

When your clients are ready to make payment, they will be directed to our website and will be required to accept our terms as well as yours. On successful checkout, they will receive a payment receipt from us. When paying by card, the statement descriptor will show as ROAM*YOUR BUSINESS NAME

SUPPLIER INSOLVENCY INSURANCE

Roam Payments holds a supplier insolvency insurance policy with All Seasons Underwriting Agencies Ltd. This policy covers the costs incurred by us, up to a maximum sum, relating to any paid and non-refundable travel arrangements on behalf of travellers (your clients) due to the insolvency of a third-party provider that has ceased trading (yourselves). With this in place, we are able to protect your clients’ funds and give a full / partial refund in the unlikely event of your insolvency (up to the maximum sum insured). In order to make declarations against our policy, we will require the following information on each confirmed booking:

• Lead passenger name
• Number of passengers travelling
• Country of departure
• Country of destination
• Travel start date
• Travel end date

CURRENCIES

We support two types of currencies in any booking. Transaction (the currency that your client pays in) and Base (the currency that we settle to you in), listed below.

• Transaction: USD, GBP, EUR, AUD
• Base: ZAR, USD, EUR

The transaction currency in a booking is fixed, but it can be made up of several base currencies. As example, if you had a client in Australia that had to pay two invoices as they were travelling to South Africa (ZAR services) and Zimbabwe (USD services), you would create a booking with AUD as the transaction currency and load the two invoices using the ZAR and USD base currencies.  to be received before the rate expires.

RECEIVING PAYOUTS

Using our platform, you have the ability to split funds received on a booking to be paid out to bank accounts in different countries that sit within your business structure. In order to start receiving payouts to a bank account, we will require an account confirmation letter from your bank. We will then call you to verbally confirm these details to be sure that they are correct.

BOOKING VALIDITY DATE

When creating a cross-currency booking (e.g. loading a ZAR invoice into the platform that your client is going to pay in USD), we will quote an FX rate that will be valid for a set period of time, this is typically 7 days. In order to confirm the booking and guarantee this FX rate between deposit and balance payment, we need the deposit requirement, set by you, to be received before the rate expires.

If payment has not be received to confirm a booking by this time, your options are as follows:

1. You can choose to refresh the FX rates in the booking. This will cause the booking total to vary in line with how the FX rate has moved since first being quoted, it will either increase or decrease. Your client will then be required to pay the updated total.
2. You can choose to not refresh the FX rates in order to keep the booking total communicated to the client constant. When payment is received,  Roam will assess to see if our agreed FX margin has been affected and any losses will be for your be funded from your Account Funds (see ACCOUNT FUNDS).

The following paragraph is some suggested text that can be sent to clients to explain the concept of booking validity dates and guaranteed FX rates.

The exchange rates used in this quote are valid until the date shown. After this period, rates will be refreshed and it may result in a difference in price for your booking. In order to confirm your booking at these exchange rates, please make sure the deposit payment is received while the quote is still valid. These exchange rates will then be guaranteed, removing any risk of currency fluctuations between now and when you pay your balance.

ACCOUNT FUNDS

Account Funds is how we account for your funds that are being held on the platform that do not directly relate to payments within a booking. The purpose of this account is to provide a seamless payment experience for you and your clients, to prevent unnecessary back and forth communication. Any balances held in Account Funds are due to you, reported in the platform and can be paid out at any time on request as per our agreement with you. Roam reconciles funds to Account Funds for 5 reasons:

1. Overpayment – if a client overpays on a booking and you request that these funds are not to be refunded
2. Underpayment –  if a client underpays on a booking and you confirm that no further funds will be paid by the client
3. Cancelled Trade – if a booked FX contract needs to be cancelled and there is gain or loss due to exchange rate movement when reversing the trade
4. FX Rebate – if you earn a rebate from a cross-currency booking (see FX REBATE)
5. Invalid FX Rate – if a we receive a deposit payment on a booking with invalid FX rates resulting in Roam incurring a loss relative to our agreed FX margin (see BOOKING VALIDITY DATE)

FX REBATE

We provide the facility for you to earn back a percentage of the FX margin generated on a cross-currency booking in the form of an FX Rebate, this percentage is set at your account level. Your rebate will be earned in the currency that your client has paid, at the time that a payment is due to settle and will be reconciled to your Account Funds on the platform.

CARD SERVICE FEES

The fee that we charge you for processing a card payment is fixed as per our agreement with you. We provide the ability for you to recoup this expense by adding a service fee to card payments in the gateway. You can set a default service fee at your account level and we are also able to override this on a per booking basis at your request.

GATEWAY BRANDING

Taking payment is a key stage in the sales process, letting clients know they are in the right place creates familiarity and trust to help this be a seamless experience. The look and feel of our gateway is fully customisable to be an extension of your brand, you have the ability to use your logo as well as choose a background image and a call to action that speaks to your identity.