Understanding Your FlexPay Invoice

As a FlexPay client, you will receive an invoice every Monday from your FlexPay Client Success Manager. The invoice will cover the previous 7-day period (from Sunday to Saturday), and it will be due for payment the following Monday.

For a high-level overview of how we bill, view this article.

Our invoice was designed with our clients in mind, and it includes all relevant information in one place.

In addition to the invoice sent to you weekly, it is stored in your FlexPay portal so you can review or download anytime.

Before going any further, if you have not had a chance to review how FlexPay calculates your invoice, we would recommend you take a look at our pricing.

Here is an example of a FlexPay invoice:

Your invoice includes three sections: (1) Invoice header, (2) Invoice Summary, and (3) Invoice details. Keep reading to understand the terms in each section.

Invoice Header
Invoice Summary

For more details on how the current recovery fee and rebate are calculated, jump to the section ‘How We Calculate Your Fees‘.

Invoice Details
How We Calculate Your Fees:
Recovery Fees

FlexPay charges a 25% flat rate on the net recovery within a given billing period, which provides us with your billing fees for the recoveries. It is important to us that we only charge you for actual recovered customers. So, we accordingly remove any refunded customers from your billing amount. Additionally, we understand that chargebacks are a business reality, so we offer a direct reduction on your recovery based on the agreed-upon chargeback rate.

Example:
$18,822.98 (net recovery amount) X 25% (billing rate) = $4,705.75 (recovery fees)

Rebate

When you start working with FlexPay, we review your baseline and the data you send us and prepare an estimated recovery rate. This rate is used for billing and is adjusted regularly to ensure we are billing you the correct amount.

Using the estimated recovery, we determine what FlexPay’s portion of recovery will be by subtracting your baseline from our estimated recovery rate.

In the following example, the estimated recovery rate is 35%, and the client baseline is 21.9%.

Example: 35% (FlexPay estimated recovery rate) – 21.9% (example baseline) = 13.1 (FlexPay lift)

Next, we divide FlexPay’s lift by the estimated recovery rate of 35%. This gives us the portion of declines that FlexPay is responsible for recovering.

Example: 13.1 / 35 = 0.37428 (37.4%) of the recovery.

With this, we can take the total recovery (100%) and remove the FlexPay proportion of the recovery (37.4%) to get your billing rebate (100% – 37.4% = 62.6%).


If you have any questions about your invoice or our process of preparing this invoice, please don’t hesitate to reach out to your Client Success Manager to discuss further.