COMPANY002 - How to submit mass payments files

Modified on Fri, 27 Jun at 7:38 AM

Overview


Process for submitting Mass Payments via your XTRM company account. It covers downloading and completing the payment submission template, uploading payment files, and managing funding and approvals. The process ensures secure, efficient bulk payments to individuals and companies, with flexible options for beneficiary creation and wallet funding. Typical processing occurs within 48 hours after funds and approvals are confirmed.


1. Log in to your XTRM company account at www.xtrm.com 


2. Select Send and choose Mass Payments.




3. You will need our mass payments Excel submission template. Click the link Submission Template to go to the template, or found Here. This template can be downloaded from google docs as an Excel spreadsheet. Fill out the spreadsheet with payment information. Note, there are mandatory requirements we need to process the payments to the digital wallets.  See the list below for Individuals and Companies.


Individuals:

  • Full Name
  • Email
  • Payment Method
  • Amount
  • Currency


Companies:

  • Full Contact Name
  • Contact Email
  • Payment Method
  • Company Name
  • Amount
  • Currency
  • Wallet ID  (highly recommended) More Info


Note: Promoters submitting results for sporting events do not need to use this template - please send results as normal in editable format - i.e. not PDF


Once you have filled out the spreadsheet, please upload it for processing.


  • If the beneficiaries don't already exist (we reference by email), then they will be created on the fly and notified of the payment.
  • Alternatively, you can have users pre-register at  https://yourcompany.xtrm.com.



4. To upload your payments spreadsheet click  Upload Mass Payment File.



5. Choose the file (one or more) to upload. Select the program if the mass payment is part of a payment program. If there are any special instructions, please enter them in the Additional Information field.


The Mass Payment secondary approval policy provides an added layer of control for bulk file submissions. This policy is configurable at the entity level and can be applied to specific wallets, allowing you to designate users who must approve Mass Payment files prior to submission.


To enable or configure this policy for Mass Payment file submissions, please refer to Approval Policies


Note for aggregators or agencies: If you are submitting a file on behalf of a customer, please select the customer from the Remitting Company drop list. If you do not see this drop list, please email support@xtrm.com for access. If you do not see your customer in the drop list, please search for them and add them to your Contact list Once added, they will appear in this drop list.




Note: Promoters should select Not Applicable for the remitting wallet. 


6. If sufficient funds are available in your account, the payment file will be processed within 48 hours. If not, you will either receive an invoice or can click the Fund link on the left to select an alternative wallet funding method.

If a mass payment approval policy is in place, the file will only be processed once it has been approved by the designated user(s). After approval and confirmation of available funds, processing will occur within 48 hours.


Our responsibility


We have received your payment submission file. A confirmation of the total and the corresponding invoice will be sent from billing@xtrm.com.


Your responsibility


Please pay the invoice preferably via Bank Transfer or ACH Debit. You also have the option to pre-fund your account, which can help expedite payment processing, as it eliminates the need to wait for incoming funds.


Our responsibility


Once funds are received, we will credit your wallet and process the payment submission file. The corresponding amounts will be deposited into the recipients’ XTRM digital wallets.


From there, recipients can choose how to use their funds—whether transferring to a bank account, redeeming digital gift cards, loading a prepaid Visa card, or selecting from other available options.


Duration


The time between file submission and processing depends on how quickly the invoice is paid. Once the wallets are funded, additional approvals are completed, processing is typically completed within 48 hours.




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