Payouts to your account are made once a month by the 15th day if the following conditions are met:
However, it may take a few days for the payment to arrive on your account, especially in case of international bank transfers. If you have not received payout within a week, please contact us firstname.lastname@example.org.
All revenue shares and your payout information can be found from Revenue shares view, which can be viewed from your Dashboard.
On rare instances, some revenue may not be included in your payouts and is marked on your self-bill as “postponed”. This is the revenue that Fortumo has not yet received from mobile operators. In such cases, we postpone the revenue of this country until the sums have been collected.
Yes, sometimes end-users ask Fortumo for a refund, for example if the service they tried to purchase didn’t work correctly or a minor has made the purchase without parent’s consent. In such case we may need to refund the user. The amount for refund will be deducted from your payout together with the refund handling fees.
Fortumo isn’t withholding any taxes from your revenue, but you might be required to pay income tax of your own country, if you are a private individual. VAT from the messages sent is declared by the mobile operators. All the revenue shares and the calculations are without VAT. Since Fortumo as a company registered in EU, 0% VAT is added to all the payments.
Fortumo uses commercial bank exchange rates from OANDA data feed, updated on first business day of a month.
You will find that information from your dashboard. You can view your overall performance from your dashboard, from Revenue tab. In addition, “Estimated Next Payouts” shows predicted future payouts according to the payout cycle.
To transfer money to your bank account, we need to know your IBAN (International Bank Account Number) and BIC (Bank Identification Code), also known as the SWIFT address of the bank, for example DABADKKK or HABALV22. Usually it can be found on the website of your bank.
End-users are always billed together with the local tax (VAT, sales-tax, etc.), but such taxes are typically handled by mobile operators. Therefore Fortumo is sharing revenue from the end-user price exclusive from taxes. I.e. the user is billed €10, VAT is €2 and payout percentage is 85%, you as a developer will get [(€10-€2)*0.85] €6.8 to your bank account. All information about revenue shares can be found in your dashboard under revenue shares view.
Some mobile operators do not have an infrastructure to connect past transactions with refunds and unpaid phone bills. In such cases operators treat uncollected sum as bad debt which is withheld from the payout.
You can configure your payout from the top right hand corner under Payout configuration. Fortumo supports monthly payouts to both, private individuals and companies. The minimum payout is 100 EUR (~110 USD). If you need to make changes in your payout configuration, they need to be done before the end of the current month to be taken into account for next month’s payout.
The money may decrease when some messages with status “pending” change to “failed.” It may happen if the operator fails to deliver the billing report or the end-user refuses to pay the bill.
This can be because of mobile operators have either refunded some of your end-users or collected a bad debt (people did not pay their phone bill) or you have calculated the revenue sharing from the end-user price with VAT.
We are converting the currencies with a commercial exchange rate once a month in correlation to the mobile operators’ settlement cycle. It is done on the first business day of the month of the particular payout.
Fortumo supports wire transfers to bank accounts: - Wire transfer to EU country: 1 EUR - Wire transfer to a country outside EU: 6 EUR